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CoinGape 2025-01-23 10:48:03

Tron’s Justin Sun Explains Why Trump Is Stacking WBTC for Bitcoin Reserves

Tron’s Justin Sun Explains Why Trump Is Stacking WBTC for Bitcoin Reserves

Tron founder Justin Sun has shared insights on Donald Trump’s DeFi project – World Liberty Financial’s – massive investments in Wrapped Bitcoin (WBTC) for building its Bitcoin reserves. Earlier today, the project acquired nearly $10 million worth of WBTC during the price dip. Taking a dig at Coinbase Wrapped BTC (CBBTC), Sun explained why Trump chose WBTC. Justin Sun – It’s Better to Own WBTC Then CBBTC In a statement posted on X, Sun emphasized the importance of true ownership in blockchain infrastructure, stating, “Not your keys, not your coins”. Taking this opportunity to criticize Coinbase’s lack of a Proof of Reserves (PoR) system, Sun argued that the reliance on such platforms exposes assets to risks of freezing or confiscation at the discretion of executives. In his message on the X platform, Justin Sun wrote : “Relying on Coinbase’s 0 Proof of Reserves (PoR) product means your BTC could be frozen or confiscated anytime. It’s entirely at the mercy of Paul Grewal (Coinbase CLO). If he likes you, you’re safe. But if he doesn’t? Game over”. Sun highlighted that WBTC ensures greater security and autonomy for national Bitcoin reserves. He also described Trump’s investment in WBTC as a strategic move to prioritize decentralization and safeguard against potential external control. In his another post on X, Tron founder Justin Sun wrote: “WBTC has become the U.S. national Bitcoin reserve in name. Is there any president other than Donald Trump who diligently buys Bitcoin daily? Trump is “the one and only Bitcoin president!”” Donald Trump’s Massive Purchase of Wrapped Bitcoin Donald Trump’s World Liberty Financial expanded its crypto portfolio even since the President took charge at the White House earlier this week. Earlier today, the DeFi project acquired 94.94 wrapped Bitcoin (WBTC) for $9.84 million in the past hour. This acquisition is part of a broader investment strategy by the fund over the last three days. This purchase comes a day after Trump’s massive investments in Justin Sun’s Tron TRX crypto . During this period, World Liberty Financial allocated $56.82 million to acquire 534.1 WBTC at an average price of $106,379 per token. The value of this investment has since dipped by $1.74 million, reflecting a 3% decline. Overall, the fund has spent $178.2 million in the past three days across six key tokens: Ethereum (ETH), wrapped Bitcoin (WBTC), Tron (TRX), Aave (AAVE), Chainlink (LINK), and ENA. The post Tron’s Justin Sun Explains Why Trump Is Stacking WBTC for Bitcoin Reserves appeared first on CoinGape .

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