Justin Sun publicly backed Tron Inc.’s ongoing TRX purchases, responding to the company’s latest buy with a brief post on X: “keep going.”
The Nasdaq-listed company said Wednesday it acquired 175,507 TRX at an average price of $0.28, putting just over $49,000 into the Tron network’s native token. After the purchase, Tron Inc.’s TRX holdings rose to 679.9 million tokens, valued in the report at about $540 million. The company said it intends to keep expanding its TRX position as part of a plan aimed at increasing long-term shareholder value.
TRX sits at the center of the treasury strategy
Tron Inc. was created through a reverse merger between SRM Entertainment and a Tron-related entity. It is described as a public company built around a blockchain-integrated treasury strategy, with a large concentration in TRX. The model draws comparisons to Nasdaq-listed Strategy, which began accumulating bitcoin as a reserve asset in August 2020 and helped popularize the digital-asset treasury approach among listed firms.
Sun’s support came as TRX continued to show relative resilience against broader market weakness. The token climbed to nearly $0.45 in 2024 before retreating to around $0.28. Even after that pullback, CoinDesk data cited in the report showed TRX down only 1.3% this year, while bitcoin was down nearly 19%. The gap has drawn attention.
Relative strength draws defensive-asset talk
With the wider crypto market under pressure, TRX’s steadier price action has led some analysts to describe it as a defensive haven asset. The latest endorsement from Sun adds visibility to Tron Inc.’s dip-buying approach and its effort to keep building a sizable TRX treasury.