In a major blow to his crypto portfolio, Manzi, a notable figure in the cryptocurrency community, has reportedly incurred a staggering loss of $525,000—roughly equivalent to PKR 15 crore—on a perpetual short trade after Bitcoin unexpectedly surged to a new all-time high.
According to sources close to the situation, Manzi had opened a high-leverage short position, betting that Bitcoin’s price would fall. However, the market moved in the opposite direction, with Bitcoin rallying sharply past its previous records. The rapid rise triggered liquidation on his position, wiping out a substantial sum.
This incident serves as a stark reminder of the volatility and high-risk nature of crypto markets, particularly when it comes to leveraged trading. While the allure of quick profits is strong, events like this underline the importance of proper risk management, market analysis, and discipline.
The loss has sparked conversations online about the need for greater financial literacy among traders and a more cautious approach in the face of unpredictable price swings. Although Manzi has not made a public statement, many in the crypto space are watching closely to see how he recovers from this major setback.
As Bitcoin continues to chart new territory, the incident emphasizes a hard lesson in the ever-volatile world of digital assets: the market is unforgiving, especially for those who trade without a safety net.
