Justin Sun says Tron will boost Bitcoin reserves after Binance call

Justin Sun says Tron will boost Bitcoin reserves after Binance call

Binance is shifting $1 billion of the SAFU fund's stablecoin reserves into Bitcoin.

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Vivian Nguyen
By Vivian Nguyen

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Updated 1:24 p.m. ET

Justin Sun, founder of the Tron blockchain, said Friday that Tron would increase its Bitcoin holdings in response to Binance’s call.

Binance is converting the SAFU fund’s $1 billion stablecoin reserves into Bitcoin, a decision that reinforces its belief that Bitcoin is the core long-term asset of the crypto ecosystem.

The exchange expects to complete the conversion within 30 days, with ongoing rebalancing to restore the fund to $1 billion if its value falls below $800 million due to price fluctuations.

Sun has backed Tron Inc., a Nasdaq-listed company that holds TRX on its balance sheet.

The firm, which bridges traditional entertainment products and web3 infrastructure, has accumulated around 679 million TRX tokens worth $196 million, per DropsTab.

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Justin Sun says Tron will boost Bitcoin reserves after Binance call

Justin Sun says Tron will boost Bitcoin reserves after Binance call

Binance is shifting $1 billion of the SAFU fund's stablecoin reserves into Bitcoin.

by Vivian Nguyen | Powered by Gloria

Share

Add as preferred source

Justin Sun, founder of the Tron blockchain, said Friday that Tron would increase its Bitcoin holdings in response to Binance’s call.

Binance is converting the SAFU fund’s $1 billion stablecoin reserves into Bitcoin, a decision that reinforces its belief that Bitcoin is the core long-term asset of the crypto ecosystem.

The exchange expects to complete the conversion within 30 days, with ongoing rebalancing to restore the fund to $1 billion if its value falls below $800 million due to price fluctuations.

Sun has backed Tron Inc., a Nasdaq-listed company that holds TRX on its balance sheet.

The firm, which bridges traditional entertainment products and web3 infrastructure, has accumulated around 679 million TRX tokens worth $196 million, per DropsTab.