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I find Justin Sun's latest move interesting. Last week, Tron Inc. bought more TRX, this time around 175,000 tokens. It is said they purchased them at an average of $0.28, bringing the company's treasury to approximately $540 million. Justin Sun confirmed this as a core strategy and stated that they will continue to buy the dip. In other words, they seriously plan to keep TRX as a reserve asset.
This strategy is interesting because TRX is actually doing well this year. Bitcoin has dropped nearly 12%, while TRX has gained about 33% so far. Of course, when it peaked last year, it was around 45 cents, now it's about 32 cents, but it still seems more resilient compared to the rest of the market. Some analysts see this as a defensive safe-haven asset.
Tron Inc. already owns 679 million TRX, and the company plans to grow this accumulation to increase long-term shareholder value. Justin Sun's stance reflects a steady accumulation during market downturns. Despite the weakness in the crypto market, it's interesting to see some projects performing relatively better.