Bitcoin’s downward momentum continues, with the price falling below $75,000 over the weekend.
After the price slightly recovered above $77,000, Tron (TRX) founder Justin Sun made a move regarding Bitcoin.
According to Coindesk, Justin Sun plans to buy up to $100 million worth of Bitcoin.
Speaking to Coindesk, Tron founder Justin Sun said he plans to add between $50 million and $100 million worth of Bitcoin to the Tron treasury.
Sun’s planned purchase attracted attention as it came after Bitcoin fell 21% since January 15, dropping to $74,674.
According to Bitcointreasuries, this move from Tron stands in stark contrast to the situation of digital asset treasury companies, which saw near-record highs last year and are now experiencing a drop of more than 30% in their holdings.
In addition, Binance, the world’s largest cryptocurrency exchange, announced that it will gradually purchase up to $1 billion worth of Bitcoin using stablecoins from its SAFU fund.
*This is not investment advice.
