A Hyperliquid merchant of the decentralized derivatives platform used 50X leverage to open a $ 200 million position in Bitcoin (BTC) on Sunday, obtaining a gain of around $ 6.8 million after the president of the United States, Donald Trump, stimulated a demonstration throughout the market when announcing the Crypto Reserve of the Nation.
The merchant used a guarantee worth $ 4 million to place an exchange that was only a change of $ 50 of being liquidated. The entrance was $ 85,908 with a liquidation price of $ 84,752.
On the other hand, BTC increased by more than 11% of $ 85,000 to $ 97,255 after a reference was made to the Reserve on the Truth Social Social Network Platform. However, the merchant perhaps supported the wrong horse since Ada and XRP experienced profits of 47% and 18% respectively.
Trump surprised many with his announcement due to the inclusion of XRP, Sun and Ada. The CEO of Coinbase, Brian Armstrong, and the CEO of Bitwise Huger Horter Horsels said that they thought that the United States reserve would only include Bitcoin, while those connected to Ripple and Cardano took turns of victory in social networks.
Some skeptical users of social networks have questioned whether the merchant had an internal knowledge of the reserve, although it is not clear if the position was a coverage or if the merchant thought that BTC had touched the bottom after the correction of $ 109,000 to only $ 78,000 in the weeks after the inauguration of Trump.
The merchant has closed his long position, realizing around $ 6.8 million in profits.
