Whale Uses 50x Leverage To Profit $6,800,000 on Bitcoin and Ethereum During Trump’s Crypto Reserve Announcement

Blockchain tracking firm Lookonchain says one crypto trader generated astronomical returns by betting big on Bitcoin ( BTC ) and Ethereum ( ETH ) as President Trump announced a potential US crypto reserve.

According to Lookonchain, a crypto whale deposited 6 million USDC to Hyperliquid, a decentralized exchange (DEX) built for perpetual futures trading, to long BTC and ETH using 50x leverage in what turned out to be an extremely well-timed trade.

The trader’s position was taken on the same day Trump announced on the social media platform Truth Social that the US will establish a “crypto strategic reserve.”

Trump said the reserve will include Bitcoin, Ethereum, XRP , Solana ( SOL ) and Cardano ( ADA ), causing those digital assets to surge.

The whale’s positions soared in value and he booked profits of nearly $7 million.

“This whale, who was long BTC and ETH with 50x leverage, has closed most of his long positions, making over $6.8 million in just one day!”

Lookonchain notes that the trader appears to make frequent leveraged trades.

“The whale who made $6.8 million from going long BTC and ETH with 50x leverage yesterday made another profit of ~$300,000 by shorting BTC [Monday]!

This whale looks like a perps gambler who uses the highest leverage. He also used 100x leverage to short/long BTC and ETH on GMX, traded 75 times on GMX in less than a month, with a win rate of 62.66%, and a total loss of $1.22 million.”

Bitcoin is trading for $90,051 at time of writing, down 2.2% in the last 24 hours. Meanwhile, Ethereum is trading for $2,279 at time of writing, down 7.6% on the day.

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Generated Image: Midjourney