JAKARTA – The founder of TRON DAO Reserve, Justin Sun, is trying to take the opportunity to buy Bitcoin (BTC) amidst the downturn in the crypto market. Besides BTC, Sun also bought up TRX.
Launching CryptoPotato, TRON DAO Reserve announced two acquisitions for the stablecoin project. In addition, they welcomed Ankr as the fourth member of the Reserve.
Meanwhile, in the last few days, the crypto market looks sluggish. The number one cryptocurrency, Bitcoin, has lost 10,000 US dollars from its previous value. The fall in the price of Bitcoin also dragged down the price of altcoins.
Some blame this condition on Terra and the controversial stablecoin UST. At the same time, TRON has decided to strengthen its own support, which operates in the same way.
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TRON DAO Reserve announced that it had bought up 500 BTC of Bitcoin at a price of around US$31,031 per coin worth US$15.5 million. They also bought 600,000,000 TRX worth more than 45 million US dollars. The organization spent as much as 60 million US dollars or around IDR 872 billion.
The massive purchase is aimed at “safeguarding the blockchain industry as a whole and the crypto market.” On the other hand, Justin Sun said he had welcomed Ankr as the fourth member and whitelisted institution.
In addition to TRON DAO Reserve, El Salvador also bought up Bitcoin at a time when the price plummeted. President Nayib Bukele said that his party bought Bitcoin in the amount of 500 BTC, the same as TRON DAO Reserve. The difference is, El Salvador buys Bitcoin at a price of 30,744 US dollars per BTC.
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