Crypto billionaire Justin Sun backed Tron Inc.’s strategy of accumulating the TRX token, which recently outperformed Bitcoin. as a core treasury asset, highlighting its latest dip buy with a simple “go ahead” on X.
Nasdaq-listed Tron Inc. announced that it acquired 175,507 TRX tokens on Wednesday at an average price of $0.28, for a new investment of just over $49,000 in the Tron blockchain’s native token. The latest purchase increased its TRX reserve to 679.9 million tokens ($540 million).
The company plans to further increase its holdings in TRX to enhance long-term shareholder value.
Tron Inc., formed through a reverse merger between SRM Entertainment and a Tron-related entity, is a publicly traded company focused on blockchain-integrated treasury strategies and holds a significant amount of TRX tokens. The company is modeled after Nasdaq-listed Strategy, which pioneered the digital asset treasury narrative by beginning to accumulate Bitcoin as a reserve asset in August 2020.
Sun’s nod reinforces steady accumulation amid market declines. The price of TRX peaked at around 45 cents in 2024 and has since retreated to 28 cents. But lately, it has been relatively resilient, down just 1.3% this year versus market leader bitcoin, which is down nearly 19%, according to data from CoinDesk.
TRX’s relative outperformance amid broader crypto weakness has led some analysts to view it as a defensive haven asset.
