Justin Sun plans to add $50 million to $100 million worth of Bitcoin $BTC$77,522.76 The founder of TRON spoke to CoinDesk about his blockchain holdings.
Bitcoin fell to $74,674 mid-morning in Asia on Monday, its lowest level since April of last year. $BTC It has now lost 21% in value since January 15th.
This is a smart purchase compared to the trove of digital asset treasury (DAT) companies that raised funds to buy the cryptocurrency at record highs last year, many of which are now facing losses of 30% or more on their holdings, according to Bitcoin Treasury.
Binance also announced over the weekend that it would purchase $1 billion worth of Bitcoin and allocate the funds to the exchange’s User Protection Fund.
TRX$0.2840 Currently trading at $0.284, it has outperformed Bitcoin in recent months but is still above its December low of $0.27, continuing its upward trend since late 2022 in a macro sense.
