Justin Sun, co-founder of Tron, has identified himself as a “Bitcoin supporter,” claiming he holds over 100,000 BTC (~$2.9 billion).
He has said he was impressed with the progress of Tron as a stablecoin network, which could positively impact Bitcoin’s value.
He has highlighted the large use of USDT for Bitcoin trading. Additionally, Sun has reported that Tron collected more fees in 2022 than Bitcoin’s network.
In June 2023, Sun announced Tron’s native token, TRX, would be available on Ethereum’s blockchain through the use of the BitTorrent bridge.
His news caused TRX’s price to increase by 10%. Sun also bought 5 million CRV tokens from the head of Curve Finance DeFi, Mikhail Egorov, with 2 million USDT.
The projects have since formed a partnership. Sun acknowledged problems of the Huobi exchange in August and stated it had not been able to show a net profit in the past four quarters, but there may be a possibility of breaking even in October-December.
