Andrew Kang, founder of crypto venture firm Mechanism Capital, has reportedly doubled his bullish bet on Bitcoin, taking a $200 million long position, according to on-chain data analyzed by crypto analytics platform Arkham.
In an April 12 post on X, Arkham revealed that a wallet tied to Kang made a second $100 million leveraged long bet on Bitcoin, bringing his total position to $200 million.
The recent trade carries an estimated potential gain or loss of around $6.8 million, reflecting Kang’s confidence in a near-term Bitcoin rally.
Kang Doubles Down on Bitcoin After Trump’s ‘Great Time to Buy’ Post
The move comes just days after Kang initiated his first $100 million long on April 9, following a post by U.S. President Donald Trump on Truth Social that declared, “THIS IS A GREAT TIME TO BUY!!! DJT.”
Shortly after the post, the Trump administration announced a 90-day pause on its recently imposed global tariffs, reversing the negative market reaction from just hours earlier when the tariffs went into effect.
In a separate post on April 12, Kang described the current environment as an ideal setup for Bitcoin, citing the Trump administration’s apparent shift in trade policy and what he referred to as a “Trump put”—a belief that Trump will prioritize market growth.
According to Kang, these factors create “the perfect combination for BTC to reverse a multi-month downtrend.”
However, the situation has stirred controversy.
On April 11, Senate Democrats urged the Securities and Exchange Commission (SEC) to investigate potential insider trading and market manipulation linked to Trump’s social media post, which they argue may have foreshadowed the tariff rollback.
Bitcoin’s price has fluctuated amid the ongoing tariff uncertainty, swinging more than 2% in the past 24 hours.
After dipping to $83,197, Bitcoin rebounded and was trading around $85,000 at press time, according to CoinGecko.
In a follow-up post on April 13, Trump clarified there was no tariff “exception” but indicated that Chinese electronics would be reassigned to a new 20% tariff category—further fueling speculation and market volatility.
Bitwise Sticks to $200K Bitcoin Price Target
Despite mounting global trade tensions and economic uncertainty, institutional crypto investment firm Bitwise remains confident in its bold year-end Bitcoin price forecast.
Last week, Bitwise Chief Investment Officer Matt Hougan reiterated his December prediction that Bitcoin could hit $200,000 before the close of 2025.
Hougan argued that recent developments in U.S. trade policy, particularly under former President Donald Trump’s renewed tariff push, could act as tailwinds for Bitcoin.
According to Hougan, the administration’s apparent willingness to weaken the U.S. dollar—despite risking its role as the world’s reserve currency—could ultimately benefit decentralized assets like Bitcoin.
Over the long run, Hougan envisions a move away from a single global reserve currency toward a diversified system.
In this future, he sees Bitcoin and gold playing a more prominent role in international finance.
“If the dollar’s stability comes into question, governments and corporations will have to look elsewhere,” he added.
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