The dude is in net profit from trading, he only used a much higher leverage on that trade and somewhat got liquidated.
A rich person like him suppose not use leverage at all which is the reason he lost so much. Using millions to trade can give high ROI without using leverage but I do not know the reason he is using high leverage to trade which is just greediness and he got liquidated. If he is not careful, he may later go broke or he should just change.
After all, most rich people who are open-minded and believe in bitcoin or cryptocurrency are usually in long-term holdings to make sure they win the profit they will get.
Just like Michael Saylor, for example, most of the time he does it in a long-term strategy, although I have no idea if he also invests in futures, which we know are very risky, especially if we invest in high vacuum.