Tron Plans Bitcoin Purchases After Binance’s $1 Billion SAFU Shift

The post Tron Plans Bitcoin Purchases After Binance’s $1 Billion SAFU Shift appeared first on Coinpedia Fintech News

The crypto market is once again showing strong confidence in Bitcoin after gold prices crashed nearly 10% today. Tron blockchain founder Justin Sun said he plans to increase Bitcoin holdings. 

Meanwhile, his statement came soon after Binance announced it would move its entire $1 billion SAFU reserve into Bitcoin, choosing to buy BTC during the market dip.

Tron Plans Bitcoin Purchases After Binance

Responding to Binance’s announcement, Justin Sun tweeted on X stating that he also plans to grow his Bitcoin position over time. While Tron does not currently maintain a large public Bitcoin treasury, the Tron ecosystem manages more than $200 million worth of TRX tokens.

Sun did not provide specific details regarding the amount of Bitcoin he plans to purchase or the timeline for these buys. 

In response to Binance's call, Tron will also increase its BTC holdings in the future.

— H.E. Justin Sun