Andrew Kang Bets Big: $200M Long on Bitcoin Signals Major Rally

Andrew Kang, the co-founder of Mechanism Capital, has increased his long position on Bitcoin to $200 million. On-chain data from the crypto analytics platform Arkham shows that a wallet linked to Kang made another $100 million leveraged long bet on April 12. This follows a previous $100 million position opened just three days earlier.

ANDREW KANG’S BIG LONG

Andrew Kang just doubled his Bitcoin position.

He is now long $200M of $BTC with a PnL of $6.8 MILLION pic.twitter.com/uydZtiXpYq

— Arkham (@arkham) April 12, 2025

The position carries an estimated unrealized gain or loss of $6.8 million, suggesting that Kang expects Bitcoin to move sharply in the near term. The trades were made amid market volatility, with Bitcoin’s price fluctuating between $83,000 and $85,000 during the same period.

Timing Coincides With Policy Shifts and Trump’s Comments

Kang’s first $100 million trade came shortly after former U.S. President Donald Trump posted on Truth Social that it was a “great time to buy.” This post was followed by a 90-day pause on new global tariffs, reversing a negative response from financial markets earlier that day.

In a post on April 12, Kang described the current market as ideal for Bitcoin. He pointed to the rollback of tariffs and referred to a possible “Trump put,” meaning a belief that Trump would support market-friendly decisions. According to Kang, these elements create a favorable setup for Bitcoin to break out of a multi-month downward trend.

ANDREW KANG’S BIG LONG

Andrew Kang just doubled his Bitcoin position.

He is now long $200M of $BTC with a PnL of $6.8 MILLION pic.twitter.com/uydZtiXpYq

— Arkham (@arkham) April 12, 2025

SEC Urged to Investigate Market Moves

The timing of Trump’s post and the policy change has raised questions in Washington. On April 11, a group of Senate Democrats called on the Securities and Exchange Commission (SEC) to investigate whether there was insider trading or coordinated activity behind the scenes. They pointed to the former president’s message as a possible trigger for market movement that might have benefited certain traders.

In response, Trump issued a follow-up on April 13, stating there was no tariff “exception.” He said instead that Chinese electronics would be moved to a new 20% tariff category. This announcement added more uncertainty and price movement in the market.

Bitcoin Price Movement and Market Outlook

Bitcoin saw a quick rebound after dropping to $83,197. It recovered and was trading around $84,695 at the time of writing, according to CoinGecko data. The market remains highly responsive to changes in global trade policy and political messaging.

Despite recent volatility, investment firm Bitwise continues to project a strong year for Bitcoin. Its Chief Investment Officer Matt Hougan recently confirmed the firm’s target of $200,000 for Bitcoin by the end of 2025. Hougan said recent moves in U.S. policy could support decentralized assets.

He noted that a weaker U.S. dollar might push both corporations and governments to look for alternative stores of value. According to Hougan, Bitcoin and gold could become more important in the global financial system if confidence in the dollar declines.

Bitwise maintains that a broader shift away from reliance on the dollar could benefit cryptocurrencies over time.