Tron founder Justin Sun to buy up to $100 million in BTC after market selloff
CoinDesk
Tron founder Justin Sun announced plans to purchase between $50 million and $100 million in Bitcoin following a recent market selloff.Summary
Tron founder Justin Sun informed CoinDesk that he intends to acquire between $50 million and $100 million worth of Bitcoin (BTC) for the blockchain's holdings. This move contrasts sharply with digital asset treasury companies that bought crypto near record highs last year and are now facing significant losses, some exceeding 30%. The announcement comes as Bitcoin recently dropped to its lowest point since April, losing 21% of its value since January 15th. Separately, Binance also committed to buying $1 billion in Bitcoin for its user protection fund. Meanwhile, TRX, Sun's native token, has outperformed Bitcoin recently and remains in a macro uptrend since late 2022.
(Source：CoinDesk)