According to Odaily, James Fickel has begun repaying his Bitcoin loan as the ETH/BTC ratio decreases. Recently, he converted 2,000 ETH into 69.69 WBTC, valued at approximately $4.87 million. This move comes after Fickel incurred a significant loss of around 22,500 ETH due to his long position on the ETH/BTC pair.
From January 10 to July 1, Fickel borrowed 3,061 WBTC, equivalent to $172 million, from Aave. He exchanged these for 56,445 ETH at a rate of 0.0543. Currently, he still has 910.67 WBTC, worth about $63.62 million, left to repay. This financial maneuver highlights the challenges faced by investors in the volatile cryptocurrency market, where strategic decisions can lead to substantial gains or losses.
