Trons Justin Sun Flashes $1.6 Billion Bitcoin Holdings as BTC Price Skyrockets
Tron founder and cryptocurrency personality Justin Sun has disclosed the specifics of his personal holdings, revealing a significant stash of 28,613 Bitcoin (BTC) valued at approximately $1.6 billion.
This disclosure follows speculation regarding Suns level of involvement with the Huobi Token (HTX) platform despite his position as a global advisor for the company.
In a post on X Wednesday, Sun clarified his position regarding the usage of HTX, stating, Personally, I use almost all main exchanges and am a supporter of those exchanges. However, if someone says I seldom use http://HTX, that would be inaccurate. I am a heavy user of HTX. My personal use of HTX is the same as all HTX users, believing and trading.
Meanwhile, experts deduced that the screenshot shared by Sun was aimed at attracting additional attention to the trading platform, which has experienced challenges in recent months. Notably, in August 2023, HTX faced an outflow of funds amid rumours of insolvency, resulting in a substantial decrease in the value of its locked assets (TVL).
It is also important to note that the company has yet to post a net profit over the past four quarters.
This is not the first time Sun has publicly shared his crypto transactions. Known for his transparency, Sun has previously highlighted transactions involving various cryptocurrencies, such as Ethereum and Shiba Inu, often making headlines for his substantial transactions.
That said, while Suns wealth is no secret, the translucency of his Bitcoin holdings highlights the growing trend of crypto moguls sharing their wealth despite few declaring their wealth publicly.
Notably, a crypto-rich list published in January 2024 highlighted the industrys wealthiest individuals. Among the notable figures were Elon Musk, the CEO of Tesla, and Coinbase CEO Brian Armstrong. Also featured was Satoshi Nakamoto, the elusive creator of Bitcoin, whose estimated net worth ranged between $30-$70 billion.
In 2021, Michael Saylor, the founder of the Bitcoin development company MicroStrategy, disclosed ownership of approximately 17,000 BTC, valued at just over $1 billion today.
Read more: https://zycrypto.com/trons-justin-sun-flashes-1-6-billion-bitcoin-holdings-as-btc-price-skyrockets/
Text source: ZyCrypto
