cryptopolitan.com
Sun noted that MicroStrategy, a business intelligence company that is well known for its Bitcoin buys, could be used as a model for Tron’s growth. He applauded MicroStrategy for leveraging Bitcoin to improve its financial health and shift its image.
Comparing it to another project, Sun suggested that Tron may be using a “Micro” approach. This could mean using new measures of treasury management, enhancing the role of TRX in the financial systems, or even keeping a Crypto treasure chest similar to MicroStrategy’s BTC reserves. This could help in the acquisition of institutional investors and make TRX popular, thus increasing its value and market standing.
Sun was optimistic about the prospect of the US regulatory environment loosening up a bit. According to him, a favorable environment will propel innovation within the cryptocurrency industry, thus leading to projects like Tron.
MicroStrategy recently bought an additional 15,400 BTC in its reserves, an investment of about $1.5 billion. The details of the acquisition, which took place between Nov. 25 and Dec. 1, were revealed in an 8-K filing with the Securities and Exchange Commission.
This comes after the company sold 3,728,507 shares in the same period, which was also worth $1.5 billion. In its $21 billion equity and fixed-income securities sale, MicroStrategy plans to generate $42 billion over the next three years to buy more bitcoins. This latest acquisition means that MicroStrategy now holds 402,100 BTC worth more than $38 billion.
TRX hits it’s all-time high
On Dec. 3, TRX, the native token of the Tron network, reached a new ATH at just above $0.44. This rally helped TRX to get a market capitalization of over $30 billion. The surge also pushed TRX to the 10th position on CoinMarketCap, overtaking Avalanche’s (AVAX) market cap. As of this writing, the token is currently trading at $0.35, registering a 45% increase in the last 24 hours.
The surge happened at the same time Javon Marks, a social media influencer, had predicted a major rally. Marks noted that TRX may undergo a “logarithmic follow-through”, which could see the asset reach $1.11, which could mean a potential gain of 720%.
Also, Mihir, a popular cryptocurrency analyst on X, painted a very bullish picture and put forward a target of $1.80 for TRX, which is 336% higher than the current price.
TRX, the next XRP👀
— H.E. Justin Sun 🍌 (@justinsuntron) December 2, 2024
However, before the rally of TRX, Justin Sun compared TRX to XRP, Ripple’s native asset.
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