Cryptocurrency billionaire Justin Sun endorses Tron Inc.’s strategy of stacking TRX token, which has recently outperformed Bitcoin As a core asset, their latest dip buy was highlighted with a simple “continue” on X.
Nasdaq-listed Tron Inc. announced Wednesday that it acquired 175,507 TRX tokens at an average price of $0.28, a new investment in the Tron blockchain’s native token for a little over $49,000. The latest purchase increases its TRX reserves to 679.9 million tokens ($540 million).
The company plans to further increase its TRX holdings to enhance long-term shareholder value.
Tron Inc., established through a reverse merger of SRM Entertainment and Tron-related entities, is a listed company that focuses on blockchain-integrated financial strategies and holds a large amount of TRX tokens. The company is modeled after Nasdaq-listed Strategy, which began accumulating Bitcoin as a reserve asset in August 2020, pioneering a digital asset treasury.
Sun’s nod reinforces steady accumulation during market declines. The price of TRX peaked at nearly 45 cents in 2024 and has since fallen back to 28 cents. But lately, it has been relatively resilient, down just 1.3% this year, according to CoinDesk, while market leader Bitcoin is down nearly 19%.
TRX’s relative outperformance amid overall weakness in cryptocurrencies has led some analysts to view it as a defensive haven asset.