Renowned Hyperliquid trader James Wynn has significantly increased his leveraged Bitcoin (BTC) long position to $1.25 billion with 40x leverage, showcasing immense confidence in Bitcoin's upside potential. Wynn closed his $PEPE memecoin position with a $25.2 million profit, exited Ether (ETH) and Sui (SUI) longs at a $5.3 million loss, then redeployed funds to boost his BTC holdings to over 11,000 coins.
Starting his Bitcoin long at $830 million on May 21, Wynn scaled his position to $1.1 billion by May 22 before securing modest profits through partial sales, amid Bitcoin trading above $110,000. However, his highly leveraged exposure increases vulnerability to sharp price drops, especially given recent market turbulence caused by geopolitical news such as the announced 50% tariff on EU imports, which pressured BTC below $107,000.
Wynn is known for his aggressive trading style and prior success with memecoins, notably predicting PEPE’s rise. His current BTC trade, facilitated by Hyperliquid's decentralized exchange offering perpetual futures and spot trading, is a substantial bet on Bitcoin continuing its rally toward $115,000 and beyond, aligning with bullish analyst forecasts.
Despite recent realized losses, Wynn remains optimistic and willing to add more capital rather than face liquidation, indicating a strong conviction in Bitcoin’s bullish trajectory. Market participants are watching closely as such large leveraged positions can influence volatility and liquidity on decentralized platforms.