Pakistani influencer and cryptocurrency aficionado Waqar Zaka has demonstrated his mettle by raking in significant profits amidst the market turmoil.
Karachi: Waqar Zaka makes millions amidst Bitcoin crash. Zaka, renowned for his daring live transmissions and keen interest in cryptocurrencies, seized the opportunity presented by today’s volatile market conditions to secure substantial gains.
During a riveting live broadcast on YouTube, Zaka showcased his trading prowess by executing two high-stakes trades with a margin of $50,000 each, leveraging his $200,000 trading account.
Zaka managed to accrue a remarkable $25,000 profit from one trade and an impressive $28,000 from another, all within a mere 3-4 hour timeframe.
As the cryptocurrency market witnessed a sharp downturn, with Bitcoin plummeting to $66,000 and altcoins experiencing double-digit declines, Zaka’s strategic manoeuvres stood out amidst the chaos.
The sudden market correction triggered the liquidation of approximately $850 million worth of leveraged derivatives trading positions across digital assets, highlighting the magnitude of the market volatility.
Read More: What happens when all 21 million Bitcoins are mined?
Against the backdrop of escalating geopolitical tensions and fears of a widening conflict in the Middle East, traditional safe-haven assets such as Treasury bonds, the U.S. dollar index (DXY), and gold surged, while equities and cryptocurrencies faced selling pressure.
Waqar Zaka is a Pakistani VJ-turned-television host and a cryptocurrency enthusiast.
Early life & education
According to Zaka, he is a 2008-09 batch Civil Engineer of NED University of Engineering & Technology.
Zaka started his career with ARY Digital with a TV reality show Living on the Edge. Waqar then created and hosted reality shows XPOSED, King of Street Magic, Desi Kudiyan and The Cricket Challenge aired on ARY Musik.
During the 2013 Pakistani general election, Zaka ran for the seat of the National Assembly of Pakistan from Karachi NA-253 constituency, but was unsuccessful and secured only 31 votes out of the 211,768 total votes cast. He ran on a platform of prioritising and improving access to entertainment and the internet.
In April 2019, Zaka announced a political movement in Pakistan called Tehreek-e-Tech. In May 2019, he apologised to the people for destroying the young minds via his TV reality show Living on the Edge.
