Large magnetic anisotropy and coercivity are key properties of functional magnetic materials and are generally associated with rare earth elements. Here we show an extreme, uniaxial magnetic anisotropy and the emergence of magnetic hysteresis in Li2(Li1-xFex)N. An extrapolated, magnetic anisotropy field of 220 Tesla and a coercivity field of over 11 Tesla at 2 Kelvin outperform all known hard-ferromagnets and single-molecule magnets (SMMs). Steps in the hysteresis loops and relaxation phenomena in striking similarity to SMMs are particularly pronounced for x << 1 and indicate the presence of nano-scale magnetic centres. Quantum tunnelling, in form of temperature-independent relaxation and coercivity, deviation from Arrhenius behaviour and blocking of the relaxation, dominates the magnetic properties up to 10 Kelvin. The simple crystal structure, the availability of large single crystals, and the ability to vary the Fe concentration make Li2(Li1-xFex)N (i) an ideal model system to study macroscopic quantum effects at elevated temperatures and (ii) a basis for novel functional magnetic materials.