Justin Sun, founder of the Tron blockchain, said Friday that Tron would increase its Bitcoin holdings in response to Binance’s call.
Binance is converting the SAFU fund’s $1 billion stablecoin reserves into Bitcoin, a decision that reinforces its belief that Bitcoin is the core long-term asset of the crypto ecosystem.
The exchange expects to complete the conversion within 30 days, with ongoing rebalancing to restore the fund to $1 billion if its value falls below $800 million due to price fluctuations.
Sun has backed Tron Inc., a Nasdaq-listed company that holds TRX on its balance sheet.
The firm, which bridges traditional entertainment products and web3 infrastructure, has accumulated around 679 million TRX tokens worth $196 million, per DropsTab.
Source: https://cryptobriefing.com/justin-sun-tron-increases-bitcoin-holdings/
