THIS MAN HAS LOST $80M AND STILL WON'T STOP BUYING ETH
Machi just withdrew a mere 1,540 $USDC from Binance and sold Bored Ape #5715 for 8.3 ETH ($15,570), an NFT he bought for 34.17 ETH three years ago, purely to keep his ETH long alive. Current position: 2,800 ETH ($5.3M), liquidation price $1,863.08.
Here's what most people covering this story miss. This isn't Machi's first rodeo, or his tenth. He's lost over $80M on Hyperliquid since last September and has sold 34 Bored Apes in the past month alone funding these exact bets, one Ape bought for 76.84 ETH sold for just 7.65 ETH, a 90% loss. But weeks ago, this same cycle of selling Apes to fund ETH longs actually worked, he turned a $40K account into $500K in under 48 hours on a single well-timed long. That's the trap, one comeback story keeps the conviction alive through nine losses.
The community's split on this for a reason, some see reckless denial, others see the purest form of degen conviction crypto has ever produced.
Is Machi a cautionary tale you'd never repeat, or the kind of all-in conviction you secretly respect?
#Ethereum #Hyperliquid #Whale #SollyCrypto
Machi just withdrew a mere 1,540 $USDC from Binance and sold Bored Ape #5715 for 8.3 ETH ($15,570), an NFT he bought for 34.17 ETH three years ago, purely to keep his ETH long alive. Current position: 2,800 ETH ($5.3M), liquidation price $1,863.08.
Here's what most people covering this story miss. This isn't Machi's first rodeo, or his tenth. He's lost over $80M on Hyperliquid since last September and has sold 34 Bored Apes in the past month alone funding these exact bets, one Ape bought for 76.84 ETH sold for just 7.65 ETH, a 90% loss. But weeks ago, this same cycle of selling Apes to fund ETH longs actually worked, he turned a $40K account into $500K in under 48 hours on a single well-timed long. That's the trap, one comeback story keeps the conviction alive through nine losses.
The community's split on this for a reason, some see reckless denial, others see the purest form of degen conviction crypto has ever produced.
Is Machi a cautionary tale you'd never repeat, or the kind of all-in conviction you secretly respect?
#Ethereum #Hyperliquid #Whale #SollyCrypto