Bought The Dip: Justin Sun Buys $150 Million Worth of Bitcoin

Time Stamp: May 19, 2021 1:30 PM
Source Node: 865076

Justin Sun, the founder of TRON, just announced that he purchased over $150 million worth of bitcoins at an average price of about $36,800.

  • In what some are calling ‘the greatest wealth transfer of the year,’ Bitcoin and the cryptocurrency market at large plummeted over 50% before rebounding over 25% within hours.
  • Amidst a slew of liquidations, several high-profile cryptocurrency advocates like Michael Saylor spoke out, reaffirming their bullish thesis, unexpectedly including Elon Musk.
  • Justin Sun was amongst these people, announcing a monster $150M Bitcoin buy.
  • Sun is no stranger to decentralized technology – as the CEO of BitTorrent and TRON, he has seen heavy value in what Bitcoin brings to the table in terms of a worldwide antifragile currency network. As such, he is extremely bullish on BTC going forwards.
  • At the time of this writing, the price for a bitcoin sits above $40,000, putting Sun’s investment at a hefty profit already.
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Source: https://cryptopotato.com/bought-the-dip-justin-sun-buys-150-million-worth-of-bitcoin/

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