Crypto billionaire Justin Sun backed Tron Inc.’s strategy to stack the TRX token, which has recently outperformed bitcoin as a key treasury asset, spotlight their recent dip buying with a simple “continue” 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 holdings to 679.9 million tokens ($540 million).
The company plans to further expand its TRX holdings to increase long-term shareholder value.
Tron Inc. – formed via a reverse merger between SRM Entertainment and a Tron-related entity – is a publicly traded company that focuses on blockchain-integrated treasury strategies and holds a significant amount of TRX tokens. The company is based on the Nasdaq-listed strategy that pioneered the narrative of digital assets by starting to accumulate Bitcoin as a reserve asset in August 2020.
The nod from the Sun reinforces the steady accumulation amid the market’s decline. TRX’s price peaked near 45 cents in 2024 and has since pulled back to 28 cents. But of late it has been relatively resilient, down just 1.3% this year compared to the market leader, bitcoin, which is down nearly 19%, according to CoinDesk data.
TRX’s relative outperformance amid broader crypto weakness has led some analysts to view it as a defensive haven.
