Justin Sun plans to increase his Bitcoin holdings worth $50 million to $100 million Tron founder told CoinDesk about holdings on the blockchain.
Bitcoin fell to $74,674 in early Asian trading on Monday, its lowest since April last year, and its value has fallen 21% since January 15.
According to bitcointreasuries, this would be a shrewd buy compared to the Digital Asset Treasury (DAT) companies that raised funds to buy cryptocurrencies at record highs last year, many of which are currently facing losses of more than 30%.
Binance also announced it would buy $1 billion worth of Bitcoin over the weekend and allocate the funds to the exchange’s user protection fund.
Currently trading at $0.284, it has outperformed Bitcoin in recent months, but is still above the December low of $0.27 and, in a macro sense, still in an uptrend from late 2022.
