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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

1 min read

In Finance

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

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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.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

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