Justin Sun Reveals Bitcoin Holdings: Here’s How Much BTC Tron Founder Has

Key Takeaways

• Justin Sun owns more than a billion in Bitcoin and he revealed this to his Twitter followers.
• ETFs and Sun’s influence fuel the Bitcoin market.
• Sun’s actions spark speculation and scrutiny.

Justin Sun, the founder of TRON, revealed  to his 3.5 million Twitter followers that he possesses more than 28,000 Bitcoin, worth around $1.6 billion.

This announcement  comes at a time when Bitcoin’s value is experiencing a notable increase, spurred by a substantial wave of investments into Bitcoin exchange-traded funds (ETFs), with 11 spot Bitcoin ETFs receiving approval last month.

Over 28,000 BTC Holdings on X Amidst Crypto Surge

In a revealing post on X , Justin Sun said he owned 28,613.74 Bitcoins. This announcement was made shortly after Bitcoin’s price  soared past the $55,000 mark, sparking significant enthusiasm within the cryptocurrency sector. Also, the Bitcoin price didn’t stop. At the time of writing it was hovering around $59,000.

Analysts forecast that the market capitalization of Bitcoin could hit $1.5 trillion, fueled by increases in spot Bitcoin ETFs offered by BlackRock, Grayscale, and other financial entities.

Sun’s Influence Spurs Market Speculation Amidst Crypto Volatility

Justin Sun’s prominence in the cryptocurrency sector leads to conjecture regarding his transactions and holdings, alongside their possible effects on the broader market.

A recent spike in cryptocurrency prices resulted in liquidations exceeding $380 million on February 27. Of this, long positions faced $109 million in liquidations , whereas short positions suffered more significantly, with losses amounting to $271 million.

Financial Maneuvers and SEC Scrutiny 

Last year, Sun withdrew  $6 million worth of SHIB from Binance in two separate transactions. Despite concerns that such withdrawals from centralized exchanges could trigger supply shocks, SHIB’s price remained unaffected.

The year also saw Sun facing regulatory action  from the United States Securities and Exchange Commission (SEC). In April 2023, allegations surfaced against Sun for trading Tronix and BitTorrent tokens without proper securities registration. Additionally, Sun’s ownership of the Huobi exchange has been shrouded in speculation and mystery. In August 2023, amid rumors of insolvency, there was speculation about Sun transferring $200 million in USDT to the exchange.

Moreover, Sun faced accusations of not disclosing payments to celebrities, including Lindsay Lohan  and Austin Malone, for endorsing cryptocurrency assets and products, further complicating his legal and financial landscape.

About the Author

Teuta Franjkovic

Teuta is a seasoned writer and editor with more than 15 years of experience. She has expertise in covering macroeconomics and technology as well as the cryptocurrency and blockchain industries. She has worked for several publications as a journalist and editor, including Forbes, Bloomberg, CoinTelegraph, Coin Rivet, CoinSpeaker, VRWorld and Arcane Bear. Teuta began her professional career in 2005, working as a lifestyle writer at Cosmopolitan in Croatia. From there, she branched out to several other publications, covering mainly business and the economy. She then turned her attention to the world of cryptocurrency and blockchain, believing that crypto is among the most important inventions in the history of humanity. Her involvement in fintech began in 2014 and she has since lent her expertise in writing, editing and gathering information about the world of crypto, blockchain, NFTs and Web3. An all-round news hound, mentor, editor, and writer, Teuta enjoys teamwork and good communication. She holds a WSET2 diploma and has a thing for chablis, punkrock music and shoes. She also holds a double MA in Political science and Entrepreneurship.

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