A trader on decentralized derivative platform Hyperliquid used 50x leverage to open a $ 200 million long position on Bitcoin (BTC) on Sunday, and the web a win of about $ 6.8 million after US President Donald Trump spurred a marketing rally by announcing the country’s Krypto Reserve.

The trader spent $ 4 million of collateral to place a trade that at one point was only a $ 50 swing away from being liquidated. The entrance was $ 85,908 with liquidation price of $ 84,752.

Instead, BTC increased by more than 11% from $ 85,000 to $ 97,255 after a reference to the reserve of the Social Media Platform Truth Social. However, the trader may have supported the wrong horse as ADA and XRP experienced gains of 47% and 18% respectively.

Trump caught many surprisingly with his message because of the inclusion of XRP, Sun and ADA. Coinbase CEO Brian Armstrong and Bitwise CEO Hunter said Horelely that they thought the US reserve would only include Bitcoin, while those associated with Ripple and Cardano took victory courses on social media.

Some skeptical users of social media have questioned whether the trader had insider knowledge of the reserve, although it is unclear whether the position was a hedge or whether the trader thought BTC had tied up after correction from $ 109,000 to as low as $ 78,000 in the weeks ago Trump’s inauguration.

The trader has now closed his long position and realized about $ 6.8 million in profit.