Last updated on May 18th, 2024 at 12:57 pm
Justin Sun, TRON founder, in a recent comment, revealed that he holds over 100k Bitcoins (worth $29.4 billion) and that he has been a strong advocate for the cryptocurrency.
Sun made this comment responding to a post on X (formerly Twitter) which revealed that Tron’s blockchain space in 2022 was worth more than Bitcoin. Dropping his opinion, Sun highlighted the excitement of the emergence of TRON as a stablecoin network.
I'm a advocate of Bitcoin, currently maintaining a substantial holding of 100k+ BTC. Nonetheless, it's exciting to witness TRON's emergence as a stablecoin network, potentially impacting BTC's value positively. A notable trend is the prevalent use of USDT TRON for BTC trading.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) August 13, 2023
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Furthermore, he added that this has the potential to positively impact the value of Bitcoin. He specifically pointed to the extensive utilization of USDT TRON for trading Bitcoin.
Justin Sun’s long-term advocate for cryptocurrencies
The TRON CEO has long been a supporter of cryptocurrencies and the underlying blockchain technology. He revealed that he owns significant holdings in two of the most popular cryptocurrencies, Bitcoin and Ethereum as well as other altcoins.
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To support his belief in crypto, Sun has always been bullish on the price of Bitcoin. He believes that cryptocurrencies like Bitcoin will play a major role and become the future of money.
In fact, in a previous interview with CNN, Sun predicted that the price of Bitcoin will surge significantly to $100,000 in 2025. According to him, not only Bitcoin will enjoy this uptick, other cryptocurrencies will follow as well.
TRON’s mainnet was released in 2018 and it has grown significantly since its emergence. Initially dominated by gambling apps, TRON successfully moved its way to the alternative Layer 1 bull market in early 2021.
TRON is a decentralized blockchain network with its native cryptocurrency TRX. Tron was initially built on the Ethereum network as an ERC20 token. However, in 2018, it migrated to its own network with its motto “Decentralize the web”.
What’s more, in 2021, TRON’s TVL (total value locked) ranged from 4 billion dollars to $6 billion. Right now, the network is ranked second among smart contract networks just behind Ethereum.
Tron TRX price today
Source: CoinMarketCap
According to live data from CoinMarketCap, the price of TRON (TRX) today is $0.07742. The price is down 0.03% in the last 24 hours. What’s more, TRON is ranked #10 in the global cryptocurrency chart with a live market cap of $6,930,464,004 ($6.9 billion).
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.