HTX Whale, Justin Sun, Buys $420 Million BTC Long Position
CryptoNewsTerminal Staff11 Jul, 2024
HTX Whale, Justin Sun, Buys $420 Million BTC Long Position
The CEO of CryptoQuant, Ki Young Ju, has suggested that the HTX whale address that bought a $420 million long position when the price of Bitcoin (BTC) was approximately $67,000 belongs to Justin Sun, the founder of TRON (TRX). The collateral utilized for this transaction was 460 million stUSDT. This news follows Sun's recent announcement that he had purchased $100 million worth of BTC and Ethereum (ETH). Sun has been a vocal supporter of Bitcoin and has previously stated that he believes it has the potential to reach a value of $100,000. The purchase of such a large BTC position by a high-profile figure like Sun is likely to be seen as a bullish signal for the cryptocurrency.
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