Founder of TRON blockchain Justin Sun echoed El Salvador President Nayib Buklele’s plan to purchase Bitcoin every day. The developments would infuse hope into the crypto industry, which has been plagued by the FUD bug.
Many prominent figures, like DOGE supporter Elon Musk, former whistleblower turned crypto advocate Edward Snowden, and trading analysts like Stockmoney Lizards, are now bullish on the biggest cryptocurrency.
Sun for one, emerged as the new savior in the ongoing FTX collapse after Binance’s snub when the crypto entrepreneur announced on Twitter he was looking at ways to bail out FTX.
Though he didn’t share the complete details, he wrote that he and his team were “putting together a solution together with FTX to initiate a pathway forward.”
The TRON founder asserted that he intervened to “avert further deterioration” in the cryptocurrency business and as a promise to TRON community members.
Even though Sun is well-known for his significant crypto holdings and somewhat controversial initiatives, many in the community were surprised by his declaration considering the seriousness of the accusations made against FTX.
Sun’s Tron DAO Reserve, a community-driven body that supports development on the Tron network, has bought millions in Bitcoin [BTC], Tron’s native token TRX, and tether [USDT] as collateral for its dollar-pegged stablecoin USDD.
On the other hand, Bukele who is a Bitcoin maximalist has led the Central American nation to adopt BTC as a legal tender, making it the first in the world to do so.
TRON Founder And Nayib Bukele Vouch For BTC
Bukele cited the most recent FTX fall to highlight why Bitcoin is distinct from other currencies, despite the criticism he previously faced for buying the asset at these times.
“FTX is the opposite of Bitcoin,” said President Bukele as he described the underlying workings of the Bitcoin protocol. The white paper highlights the importance of an immutable peer-to-peer network in achieving a trustless financial system.
The Bitcoin strongman singled out FTX CEO Sam Bankman-Fried and financial criminal Bernie Madoff, pointing out how the Bitcoin protocol stops such bad actors from committing financial crimes.
“Some understand it, some not yet. We’re still early.”
Additionally, he emphasized that bitcoin has a 21 million market cap limit, making it a genuinely unique asset to acquire globally. His comments drew praise from BTC supporters.
