Mystery whale opens $300M leveraged Bitcoin bet: James Wynn alt account?

The mysterious $300 million leveraged Bitcoin long comes days after Wynn’s second $100 million leveraged Bitcoin position was liquidated, causing a near $25 million loss.

A mystery investor has opened a $300 million leveraged Bitcoin position, fueling speculation around their identity.

The unknown whale, or large cryptocurrency holder, opened a 20x leveraged Bitcoin
BTC
$109,354
long position worth over $308 million at the entry price of $108,100, Hypurrscan blockchain data shows.

The position currently shows an unrealized profit of more than $4 million and faces liquidation if Bitcoin drops below $105,780.

The trade has reignited speculation around James Wynn, a high-profile leverage trader who recently lost nearly $25 million in a separate liquidation on June 5, as Cointelegraph previously reported.

“I’m back in the casino under an alt account so the cabal market makers can’t find me,” wrote Wynn in a June 10 X post.

Blockchain data platform Onchain Lens also pointed out that Wynn may be behind the $300 million leveraged long.

“They are hunting me,” claimed Wynn before $100 million liquidation
After opening his second $100 million leveraged Bitcoin position, Wynn claimed that his liquidation level is being deliberately targeted by orchestrated efforts from major market participants.

“They’re coming for me again,” wrote Wynn, disclosing his previous liquidation level in a June 2 X post. “Don’t let these evil bastards liquidate me,” he added.

Wynn also claimed that some of his personal accounts on cryptocurrency exchanges were “closed overnight” for no obvious reason.

While the identity of the mysterious whale remains unclear, the $300 million bet coincides with a renewed “wave of institutional breakthroughs” for Bitcoin, according to Nexo dispatch editor Stella Zlatareva.

“Corporate treasury activity continues to expand,” she told Cointelegraph, referencing Strategy’s $1 billion stock offering to fund its Bitcoin purchases, which was upsized from the previously announced $250 million.