Tron co-founder Tron Justin Sun described himself as a ‘Bitcoin advocate’ and said he holds more than 100,000 BTC (~$2.9 billion at the time of writing).
“It is interesting to observe Tron’s development as a stablecoins network, which could positively affect the price of the leading cryptocurrency. A notable trend is the predominant use of USDT for trading Bitcoin,” he added.
Sun also noted that the total fees across the Tron network in 2022 were higher than those on the Bitcoin blockchain.
In June 2023, Sun announced that the native TRX token became available on the Ethereum blockchain via the BitTorrent bridge. Following the news, the token’s price rose by 10%.
Earlier the entrepreneur bought 5 million CRV tokens from the head of the DeFi protocol Curve Finance Mikhail Egorov for 2 million USDT. At the same time he announced partnerships between the projects.
Earlier in August, Justin Sun acknowledged problems at Huobi. He said the platform had not posted a net profit in the last four quarters, but could reach break-even in October–December.