TRON, the blockchain network, is going public in the US! This major deal involves a reverse merger with Nasdaq-listed SMR Entertainment, creating a new company called Tron Inc.
Following in MicroStrategy’s Footsteps
The plan is similar to what MicroStrategy (now Strategy) did with Bitcoin. MicroStrategy successfully used debt to buy Bitcoin, and as Bitcoin’s price rose, so did their stock price – a 126% increase in one year! Many companies are now trying to replicate this strategy. Tron Inc. will purchase millions of TRON’s TRX tokens, hoping for a similar price surge.
Eric Trump’s Involvement
Eric Trump will be involved with Tron Inc., though his exact role hasn’t been revealed. This connection is noteworthy, given Justin Sun’s efforts to build relationships with the Trump family. Sun is a major holder of the $TRUMP token and has reportedly invested heavily in Trump-connected businesses.
TRX Price Soars
News of the public listing sent the TRX token price up by 3.3% in just an hour, exceeding $0.27. With over $210 million in TRX expected to be injected into Tron Inc., further price increases are anticipated.
Dominari Securities: A Booming Investment Bank
The deal is backed by Dominari Securities, an investment bank with strong Trump ties. Interestingly, Dominari’s value has skyrocketed by 580% since Eric Trump joined its advisory board. They’ve also received significant investment from Elon Musk’s companies.
The Future of TRX
Will TRX follow a similar trajectory to Bitcoin’s rise in value? Only time will tell.