Several investors have incurred significant losses twice over from investments in the LIBRA token, heavily promoted by Argentina’s President Javier Milei.
TRUMP made this guy a profit of $7.32M, but MELANIA caused him to lose $617K, and LIBRA caused him to lose another $1.76M!
This guy has lost twice on $LIBRA.
3 days ago, he spent $1.7M to buy $LIBRA and sold for $136K, losing $1.56M.
After Javier Milei (@JMilei) retweeted a… pic.twitter.com/LvAckm03Hi
— Lookonchain (@lookonchain) February 18, 2025
According to Lookonchain, three days ago, one market participant spent $1.7 million on the coin. He then sold the tokens, incurring a loss of $1.56 million.
“After Javier Milei reposted about how to buy LIBRA, the user spent $300,000 on reacquiring the asset and lost another $200,000,” analysts observed.
However, they noted that “the guy made $7.32 million in profit on the TRUMP token,” although he lost $617,000 on investments in MELANIA.
Even Whales Make Mistakes
One whale also recorded losses twice on investments in LIBRA, losing a total of $2.78 million.
A whale lost twice on $LIBRA, with a total loss of $2.78M!
3 days ago, this whale spent 17,450 $SOL($3.25M) to buy $LIBRA and sold for 3,200 $SOL($595K), losing 14,250 $SOL($2.65M).
After Javier Milei (@JMilei) retweeted a post about how to buy $LIBRA, this whale spent 2,855… pic.twitter.com/lOTSWqC7MB
— Lookonchain (@lookonchain) February 17, 2025
Three days ago, this market participant spent 17,450 SOL ($3.25 million) on purchasing LIBRA. He then sold the coins for 3,200 SOL ($595,000), losing 14,250 SOL ($2.65 million).
As in the previous case, Milei’s retweet prompted the whale to repurchase LIBRA—this time spending 2,855 SOL ($531,000). The investor then “dumped” the coins for 2,159 SOL, recording a loss of $129,000.
Earlier, the activity of Argentina’s president led to scandal, accusations of fraud, involvement in a Pump & Dump scheme, and the threat of impeachment.
Barstool Sports founder Dave Portnoy purchased LIBRA for approximately $170,000. The token is not related to the meme coin mentioned by Milei and has a different contract address.