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TRON founder and chief adviser to Huobi, Justin Sun, has revealed the truth about his alleged $69,000 Bitcoin long position. Sun, a well-known figure in the crypto industry, addressed the rumors in an unusual post on social networks.JOIN CRYPTOS HEADLINES<a href="https://t.me/CryptosHeadlines" rel="noopener noreferrer nofollow">TELEGRAM CHANNEL</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/7c05db6931774da4874a89910d46d4f2.svg&#43;xml" />In his post, Sun responded to the speculations regarding his Bitcoin investments, aiming to clarify the situation and provide transparency to the crypto community.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6a93d90ef9724036b72218543ad3f471.png" /><h3 id="justin-sun-clarifies-bitcoin-investment-rumors">Justin Sun Clarifies Bitcoin Investment Rumors</h3><a href="https://cryptosheadlines.com/justin-sun-unveils-ambitious-plan-for-trons-bitcoin-layer-2-integration/" rel="noopener noreferrer nofollow">Justin Sun expressed confidence in Bitcoin’s</a> future but clarified that he did not take a long position at the $69,000 price level.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/54ffb8c8b378417c84bbbbc665d2cb5d.png" />Justin Sun’s clarification. Source: <a href="https://x.com/justinsuntron/status/1811631660724822527?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">X</a>This clarification came in response to a claim by Ki Young Ju, CEO of CryptoQuant, who alleged that Sun had opened a substantial Bitcoin long position using stUSDT as collateral.<h3 id="justin-sun-denies-69-000-bitcoin-long-position-amidst-allegations">Justin Sun Denies $69,000 Bitcoin Long Position Amidst Allegations</h3>Ju claimed that Sun is a mysterious HTX whale who opened a long Bitcoin position at $67,000 with at least $420 million in positions.He pointed out that the USDT reserve was around $24 million and questioned the source of the collateral, stating that Sun used $460 million worth of stUSDT, a stablecoin project with a high annual percentage yield, with 89% of the supply in HTX.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6a93d90ef9724036b72218543ad3f471.png" />Interestingly, Ju later deleted his post, explaining that he intended to clarify matters with the exchange team. He emphasized that he was not being compensated for this action and did not want to harm their business before they had a chance to comment.While Sun denied purchasing BTC at the $69,000 level, he did not address allegations regarding his Ethereum acquisitions. Recently, <a href="https://cryptosheadlines.com/blur-nft-maintains-number-one-spot-despite-cooling-volumes-since-airdrop/" rel="noopener noreferrer nofollow">Spot On Chain reported that since</a> Feb. 8, Sun may have bought 362,751 ETH, worth approximately $1.11 billion, via three wallets.<a href="https://cryptosheadlines.com/shiba-inu-soars-as-360m-shib-burnt-more-gains-ahead/" rel="noopener noreferrer nofollow">Also Read: Shiba Inu Soars as 360M SHIB Burnt: More Gains Ahead?</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/c2460bf07494439ab07ef5b19ae9a766.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

TRON Founder Justin Sun Addresses $69,000 Bitcoin Long Rumors

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