crypto-news-flash.com
- Tron Founder Justin Sun has revealed he has 28,613 BTC worth $1.638B.
- Sun has more proactive plans to integrate Tron with Bitcoin and the broader crypto world.
Justin Sun, the renowned entrepreneur behind TRON (TRX) recently disclosed in a post on the X platform that he has about 28,613 Bitcoin (BTC), currently worth $1.638 billion in his portfolio.
Justin Sun’s Disclosure on HTX Exchange
This revelation came as Sun addressed speculation regarding his engagement with the HTX exchange, where he showcased his substantial BTC holdings.
In response to comments suggesting his infrequent use of HTX, Sun clarified his stance, emphasizing his heavy involvement with the platform. He asserted, “My personal use of HTX is the same as all HTX users, believing and trading.” This statement highlights Sun’s commitment to HTX and reflects his active participation in the broader crypto trading ecosystem.
My personal HTX account balance (just for those who are saying I'm not using HTX much) @HTX_Global pic.twitter.com/TtbiDWHLRZ
— H.E. Justin Sun 孙宇晨 (@justinsuntron) February 27, 2024
The timing of Sun’s disclosure aligns with Bitcoin’s remarkable surge, with its value soaring to $57,000. As of the latest data, BTC is trading at $58,665, demonstrating an increase of 5.5% in the past 24 hours with trading volume pegged at $44.7 billion.
This price point, unseen for over two years since December 2021, reflects renewed investor confidence and heightened market optimism. Notably, Sun’s BTC portfolio adds to the growing narrative surrounding influential figures and their substantial crypto holdings.
Data from Arkham Intelligence research indicates that Satoshi Nakamoto, the pseudonymous creator of Bitcoin, likely remains the largest holder of the currency, with an estimated 1.1 million BTC, valued at over $50 billion. Coinbase and Binance, two prominent exchanges, also boast substantial BTC holdings, further emphasizing the widespread adoption and institutional support for the cryptocurrency.
Meanwhile, Sun’s disclosure comes amidst TRON’s ambitious plans to integrate Bitcoin scalability solutions into its network. With the announcement of support for the Merlin Chain project, aimed at enhancing Bitcoin’s interoperability, Sun underscores TRON’s commitment to improving innovation and financial accessibility within the crypto ecosystem.
Ripple Effect of Bitcoin’s Rise on Crypto Market
The ripple effects of Bitcoin’s rally are evident across the entire crypto market, with investments pouring into spot Bitcoin exchange-traded funds (ETFs) as previously reported by Crypto News Flash. The Fear & Greed Index, a sentiment gauge among investors, reached a level of 79 out of 100, signaling “extreme greed” and bullish sentiment prevailing in the market.
Reiterating Crypto News Flash’s earlier reports, Sun has recently participated in a mega $180 million Ethereum buying spree, capitalizing on the market rally fueled by anticipation of an ETH ETF approval.
Sun’s forward-thinking approach extends beyond Bitcoin and Ethereum, as evidenced by TRON’s plans to integrate with the Solana blockchain, per Crypto News Flash’s earlier announcement.
In summary, Justin Sun’s unveiling of his massive Bitcoin portfolio not only solidifies his position as a prominent figure in the crypto space but also reflects his strategic vision for TRON and its integration with leading blockchain projects.
As of the latest data, TRON’s native cryptocurrency, TRX, is trading at $0.1428, demonstrating an increase of 1.2% in the past 24 hours with its market capitalization standing at $12.5 billion.