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A $300 million leveraged Bitcoin bet has taken crypto markets by storm, reopening questions about the identity and intentions of one of the industry’s most aggressive traders.
According to blockchain data from Hypurrscan, the whale behind the position opened a 20x leveraged long on Bitcoin (BTC) at an entry price of $108,100, risking liquidation at $105,780.
The high-stakes trade currently holds an unrealized profit of over $4 million, and it’s sending speculation into overdrive: Is James Wynn, the infamous trader who recently lost $25 million in a similar bet, back under an anonymous wallet?
This new leveraged Bitcoin bet comes just days after Wynn’s second $100 million BTC long was liquidated, resulting in a $24.8 million loss.
On June 5, Wynn posted on X that he was “done for now” after losing confidence in market fairness. But just hours later, he hinted at a return under an alternate identity.
“I’m back in the casino under an alt account so the cabal market makers can’t find me,” he wrote on June 10.
The timing and scale of the $300 million bet, paired with Wynn’s cryptic online activity, has prompted on-chain analysts to dig deeper.
According to Onchain Lens, a prominent blockchain analysis platform, transaction behavior from the mystery wallet matches several of Wynn’s known patterns.
The wallet interacted with similar derivatives protocols, executed orders within Wynn’s preferred leverage range, and even mimicked his historical bet sizing.
“The behavioral fingerprint is hard to ignore,” said Onchain Lens in a June 11 statement. “It’s highly likely this is Wynn’s alt.”
That makes this leveraged Bitcoin bet not just a massive trade, but a possible comeback story.
With a 20x leverage setup, the mystery trader’s liquidation level is $105,780. At current prices around $108,682, the bet sits precariously close to danger territory.
If Bitcoin dips just 2.7%, the trader could face a wipeout of over $300 million, one of the largest in recent memory.
“This kind of leveraged Bitcoin bet is either genius or madness,” said Stella Zlatareva, editor at Nexo Dispatch. “It reflects a belief in immediate upside—and a tolerance for existential risk.”
Interestingly, this whale-sized leveraged Bitcoin bet coincides with rising institutional appetite. On June 9, U.S.-listed spot Bitcoin ETFs saw $386 million in net inflows, according to Farside Investors, signaling renewed confidence after a two-day outflow streak.
Meanwhile, MicroStrategy rival Strategy announced a $1 billion stock offering to fund more Bitcoin buys, upped from the original $250 million plan.
“There’s structural capital coming into BTC right now,” said André Dragosch, Bitwise’s head of European research. “It’s realistic to expect a base-case BTC target of $200,000 before the end of 2025.”
This wave of institutional capital could indirectly protect or even boost the value of this high-profile leveraged Bitcoin bet, assuming the trader can hold their nerve.
In prior posts, Wynn claimed he was being “hunted” by what he called “the cabal”—large market makers intentionally triggering his liquidations. He alleged some of his exchange accounts were “closed overnight,” pointing to unfair treatment.
“Don’t let these evil bastards liquidate me,” he wrote on June 2, before losing his $100 million long.
If the current leveraged Bitcoin bet is indeed Wynn’s, it marks not just a financial risk—but a psychological war with the market’s biggest whales.
This mystery leveraged Bitcoin bet—whether Wynn’s or not—embodies everything that makes crypto both exhilarating and volatile. It reflects ultra-high conviction, thin margins, and a market increasingly shaped by bold bets and institutional moves alike.
Whether it ends in a record-setting profit or another brutal liquidation, one thing is certain: this leveraged Bitcoin bet won’t go unnoticed.
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