Andrew Kang, founder of cryptocurrency venture capital firm Mechanism Capital, has repeatedly expressed his confidence in the Bitcoin (BTC) price increase. According to on-chain data, he has recently established a long position in Bitcoin totaling $200 million (approximately 292 billion won).
Blockchain analysis company Arkham announced on April 12th via X (formerly Twitter) that another Bitcoin long position of $100 million (approximately 146 billion won) was executed from the wallet address known to be Kang's. The expected profit and loss for this position is approximately $6.8 million (about 9.9 billion won).
Previously, on April 9th, the same wallet had also set a Bitcoin long position through a leveraged trade of $100 million. At the time, this was backed by a statement from Trump, who publicly mentioned on his Truth Social platform that "now is the best time to buy Bitcoin".
A few hours later, the Trump administration announced a 90-day extension on the previously implemented global high tariff policy. This measure acted as a positive signal in the financial markets, simultaneously lifting both cryptocurrency and stock markets. Kang assessed on his social media that "the easing of trade war tensions and the Trump administration's willingness to support the stock market, or 'Trump put', have provided momentum to reverse Bitcoin's months-long decline".
He stated that Trump's direct statement on April 9th could be interpreted as a signal showing the substance of the 'Trump put' that has been discussed in some market circles. The 'Trump put' refers to the expectation that the president will employ various policies to prevent asset market declines.
Meanwhile, the US Senate Democrats sent an official letter to the Securities and Exchange Commission (SEC) on April 11th, requesting an investigation into insider trading and market manipulation allegations against Trump and his associates. They claimed that the statement appeared to have implicitly indicated the tariff policy extension in advance.
Bitcoin is currently showing volatility amid tariff-related confusion. Over the past 24 hours, it has fluctuated more than 2%, dropping to $83,197 before partially recovering and trading around $85,000. On April 13th, Trump posted on Truth Social again, stating that the announced mitigation measures were "not tariff exceptions" and that Chinese electronic products were reclassified into the 20% tariff group.
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