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Justin Sun encourages continued purchasing of TRX as the token surpasses Bitcoin in performance.
TRX has surpassed much of the cryptocurrency market this year, declining only approximately 1.3% compared to bitcoin’s nearly 19% drop.
Justin Sun supports Tron Inc’s TRX purchases. (CoinDesk)
Key points:
- Tron Inc., a publicly traded company on Nasdaq that specializes in blockchain-integrated treasury strategies, acquired 175,507 TRX tokens for approximately $49,000, increasing its total holdings to 679.9 million TRX valued at around $540 million.
- Justin Sun has publicly backed Tron Inc.’s approach of accumulating TRX as a primary treasury asset, indicating ongoing dip-buying to improve long-term shareholder value.
- TRX has outperformed a significant portion of the cryptocurrency market this year, decreasing only about 1.3% compared to bitcoin’s almost 19% decline.
Crypto billionaire Justin Sun has advocated for Tron Inc.’s strategy of acquiring the TRX token, which has recently outperformed bitcoin , as a foundational treasury asset, highlighting their recent dip purchase with a straightforward “keep going” on X.
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The Nasdaq-listed Tron Inc. revealed that it purchased 175,507 TRX tokens on Wednesday at an average price of $0.28, totaling a new investment of slightly more than $49,000 in the native token of the Tron blockchain. This latest acquisition increased its TRX holdings to 679.9 million tokens ($540 million).
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The company intends to further expand its TRX holdings to increase long-term shareholder value.
Tron Inc. — established through a reverse merger between SRM Entertainment and a Tron-associated entity — is a publicly traded company concentrating on blockchain-integrated treasury strategies while holding a considerable amount of TRX tokens. The firm is modeled after Nasdaq-listed Strategy, which initiated the digital asset treasury concept by beginning to accumulate Bitcoin as a reserve asset in August 2020.
Sun’s endorsement emphasizes consistent accumulation during market downturns. TRX’s price reached nearly 45 cents in 2024 and has since retraced to 28 cents. However, it has been relatively stable recently, down only 1.3% this year compared to the leading cryptocurrency, bitcoin, which has fallen nearly 19%, according to CoinDesk data.
TRX’s relatively strong performance amid widespread crypto weakness has led some analysts to consider it a defensive haven asset.
