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Home News Crypto

Justin Sun Praises World Liberty’s $10M WBTC Investment Amid Market Dip

23 January 2025
in Crypto, News
Reading Time: 3 mins read
104 4
Justin Sun Praises World Liberty's $10M WBTC Investment Amid Market Dip

Source: CryptoRank

Justin Sun, the founder of Tron, has commended former World Liberty Financial for its significant investment in Wrapped Bitcoin (WBTC), totalling nearly $10 million during a market dip. This move enhances its Bitcoin reserves and highlights its broader investment strategy.

In a January 23 post on X, Sun highlighted why WBTC was chosen over Coinbase Wrapped Bitcoin (CBBTC), citing the principle of “not your keys, not your coins.” He criticized Coinbase for lacking a Proof of Reserves (PoR) system, which he argued exposes assets to potential risks of freezing or confiscation by centralized entities. Sun says WBTC offers superior security and autonomy, making it the ideal choice for safeguarding national Bitcoin reserves.

“WBTC has become the U.S. national Bitcoin reserve in name,” Sun remarked in a follow-up post on X. He also commended Trump, referring to him as “the one and only Bitcoin president,” and praised his consistent efforts to expand the nation’s crypto portfolio.

World Liberty Financial recently acquired 94.94 WBTC for $9.84 million as part of a broader investment strategy, allocating $178.2 million to multiple cryptocurrencies since Trump took office. The fund invested heavily in Ethereum, Tron, Aave, Chainlink, and ENA. It spent $56.82 million on 534.1 WBTC at an average price of $106,379 per token. Still, the value of this investment has declined by 3%, resulting in a $1.74 million loss, according to data from Arkham Intelligence.

Meanwhile, Sun reportedly made a significant profit of $24.9 million by trading digital assets he had held for over a year. According to the on-chain analytics platform Spot On Chain, a wallet linked to Sun deposited $21 million worth of digital assets into Binance within thirty minutes. The deposit included Maker (MKR), Liquity (LQTY), Aave (AAVE), and Compound (COMP) tokens. Sun reportedly earned $6.86 million from his MKR deposit (281% increase) and $645,000 from AAVE (17% growth).

 

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