Justin Sun bets on his crypto Tron

Justin Sun, founder of Tron, shared his ambitious goal for the year, and that is to make the TRX crypto a legal currency in 5 countries by 2023. 

Tron (TRX) crypto as legal tender in 5 countries by 2023

In a roundup of tweets, Tron founder Justin Sun shared with his 3.4 million followers his goal for the year: to have TRX become legal tender in 5 countries by 2023. 

By 2023, I hope to see #TRX widely accepted and used in at least 5 countries as legal tender, and for this to be just the beginning of wider adoption of cryptocurrency in general.

— H.E. Justin Sun🇬🇩🇩🇲🔥₮ (@justinsuntron) January 29, 2023

In addition to the increased adoption of TRX and the increase in its value, Sun adds that this ambition of his would also lead to a broadening of crypto acceptance globally. 

Apparently, Sun’s idea also stems from some confirmations received from some countries. And indeed, as early as last October 2022, the Commonwealth of Dominica adopted TRX and six other Tron-based cryptocurrencies as legal tender. 

Not only that, earlier this week, a member of parliament proposed a bill that, if passed, would make Tron legal tender in the Eastern Caribbean island nation of St. Maarten. In doing so, St. Maarten’s bill proposes to adopt Tron as the country’s national blockchain.

Justin Sun: US could be the last country in the world to accept crypto 

Furthering the discussion of legal TRX with other tweets, Sun wanted to specify that the US is likely to be the last of the countries on Earth to adopt crypto assets as legal currencies and that it is therefore better to focus on the rest of the world. 

I believe that if 7.7 billion people on Earth adopt crypto as legal tender, the 300 million people in the US will eventually follow suit.

— H.E. Justin Sun🇬🇩🇩🇲🔥₮ (@justinsuntron) January 29, 2023

In this sense, Sun specifies that the work to make TRX legal will have to be done on a global scale, building partnerships with governments and companies in countries around the world. 

Not only that, the founder of Tron, describes cryptocurrencies in general as tools of financial inclusion that can improve the lives of people in every corner of the world. 

Tron (TRX) and price changes

At the time of writing, Tron (TRX) ranks 17th in crypto by market cap, with a total market capitalization of more than $5.8 billion.

TRX’s price is back to the levels of 3 months ago, at $0.063, after a low of $0.047 hit immediately after the collapse of the FTX crypto-exchange. 

The crypto is still well off its ATH – All Time High of $0.16 touched in April 2021. 

Recently, TRX ran into trouble together with Huobi, which is the crypto-exchange for which Justin Sun is an advisor and part of the advisory board. Everything was overcome, but what had raised doubts was that Huobi, after announcing a major layoff campaign, had also said it would pay employees in stablecoins.

In this regard, Tron has a USDD algorithmic stablecoin, but since November it had lost its peg with the dollar. The concern was that employees would be paid precisely in USDD fearing further loss of value for the token. Something that then seems not to have happened, and indeed, has all been overcome.