Justin Sun, the founder of Tron, has made a significant investment in Bitcoin, accumulating nearly 520 BTC before the recent price rally.
Justin Sun’s Bitcoin Purchase
According to data from Lookonchain, an on-chain analytics firm, Sun acquired about 519 Bitcoin, worth approximately $24.85 million at the time of the report. With the current price of BTC, the transaction is now valued at about $25.95 million.
Sun’s Previous Bitcoin Acquisitions
The report also revealed that Sun has acquired more than 1,677 Bitcoin tokens from Binance in the past two months, totaling $75 million. These BTCs were accumulated at an average price of about $44,741.
Sun’s Cryptocurrency Holdings
Justin Sun’s total cryptocurrency holdings are now worth a whopping $1.17 billion, according to blockchain analytics firm Arkham Intelligence. His largest digital asset is the algorithmic USDD stablecoin created on the TRON blockchain, of which he holds over $281 million. His second-largest holding is the TRON (TRX) token, owning slightly more than 2 billion.
Institutional Investors’ Interest in Crypto
The recent investment in BTC by Founders Fund, a venture capital firm founded by Billionaire Peter Thiel, indicates that institutional investors are again becoming interested in crypto investments. The company invested about $200 million into Bitcoin and Ethereum before the recent rally.
Conclusion
Justin Sun’s substantial investment in Bitcoin and other cryptocurrencies highlights the growing interest in digital assets among both individual and institutional investors.
