A hedge fund in the British Virgin Islands has notified TRON Official that it recently increased its TRX holdings by 20 million USD worth of TRX and deposited funds to TTXeVETaU1wSV9cYutUgyg7x1gtrfCiDiW. The corresponding hash addresses of bought up TRX is c394eb0d445b00e648efd0c283fe4e4e935d906977e85dc2e8654525d65ac644.
The total amount of bought up TRX by BVI sums up to 1,089,324,517.99 TRX with the average bought up the price of the TRX equal to $0.01836.
The BVI-based hedge fund, which has a positive outlook on the TRON ecosystem, plans to increase its holdings of TRX further and to build a friendly and close-knit relationship with TRON. The firm has previously made investments and acquisitions in multiple blockchain projects, holding a collection of crypto in its portfolio.
This move signifies a breakthrough in TRON’s efforts to improve its compliance level and to enhance relationships with institutional investors. Moving forward, TRON will branch out to more institutional investors and help make TRX the token of their choice.
Tron is dedicated to building the infrastructure for a truly decentralized Internet. The TRON Protocol, one of the largest blockchain-based operating systems in the world, offers high-scalability, high-availability, and high-throughput support that serves as the foundation for all decentralized applications in the TRON ecosystem. The Protocol also uses an innovative, pluggable smart contract platform to improve compatibility with Ethereum smart contracts
On July 24, 2018, TRON acquired BitTorrent Inc., an Internet technology company based in San Francisco. The distributed technology designed by BitTorrent Inc. is smart, highly scalable, and keeps creators and consumers in control of their content and data. More than 170 million people use BitTorrent products every month. BitTorrent Inc.’s protocol drives 40% of the world’s Internet traffic every day.