Andrew Kang, founder of crypto venture firm Mechanism Capital, has doubled his leveraged bet on Bitcoin, now holding a $200 million long position, according to blockchain analytics platform Arkham.

The move follows an initial $100 million bet placed on April 9, shortly after former U.S. President Donald Trump posted on Truth Social: “THIS IS A GREAT TIME TO BUY!!! DJT.” Hours later, the Trump administration announced a 90-day pause on newly introduced tariffs — a move that sparked a sharp rally in both crypto and equities.

Kang noted Trump’s April 9 Truth Social post could be a sign of the so-called “Trump put.” Source: Andrew Kang

On April 12, Arkham reported that a wallet linked to Kang added another $100 million long position on Bitcoin, bringing his total exposure to $200 million. The new position carries an estimated potential gain or loss of $6.8 million.

“Andrew Kang just doubled his Bitcoin position,” Arkham stated in a post on X.

The original position on April 9 coincided with market volatility triggered by U.S. trade policy shifts. Tariffs on Chinese electronics, initially launched on April 2, were quickly paused, fueling speculation of insider knowledge. Senate Democrats responded with a call for an SEC investigation into possible market manipulation tied to Trump’s public post and subsequent policy move.

Bitcoin reacts to trade war uncertainty

Over the past 24 hours, Bitcoin has been volatile, swinging more than 2% as investors reacted to conflicting tariff signals from the Trump administration. BTC briefly dipped to $83,197 before recovering to around $85,000, according to CoinGecko data.

On April 13, Trump clarified that there was no formal tariff “exception” announced on April 11, but that levies on Chinese electronics were being shifted to a different tariff “bucket” at a 20% rate.

In a separate post, Kang said the mix of trade war reversal and the perceived "Trump put" — a belief that Trump will take action to buoy markets — creates an ideal setup for Bitcoin to reverse its recent downtrend.

“Trade war capitulation + Trump put = perfect combo for BTC to reverse multi-month downtrend,” he posted on X.

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