Investors and traders used the recent Bitcoin dip to intercept the crypto market and make a solid investment in buying Bitcoin when it is at its lowest. The price of the flagship cryptocurrency did plummet from $55k to $42k, which was a clear signal for people to invest in Bitcoin; luckily, some institutes took action and bought BTC in bulk. Justin Sun, CEO of Tron, says that he has also bought the dip and purchased almost 4145 Bitcoins at an average price of $36.8k. This might come out as a surprise for many investors and traders out there, but for those who believe in the long game, it doesn’t pose a question at all.
Investors Taking a Generous Bath in the Recent Bitcoin Dip
Bitcoin took a heavy price bit, and if it is referred to the fact that it is the worst bear run in the history of Bitcoin, then it won’t be wrong at all. Both the Bitcoin and the crypto market plummeted almost to 50% while rebounding at 25% only later on, and all of that happened within hours. Elon Musk’s ironic tweets about how Bitcoin mining is posing a serious threat to our environment and how Tesla is deciding whether to dump or keep their $1.5 billion worth of the leading cryptocurrency did draw its price down for sure. But then it took a rebound, and once again, the price was not coming back to the initial range and kept on declining until it reached $38k, and this is when Tron bought their fair share of Bitcoins at $36.8k on average.
Tron is not the only one who bought the dip, as MicroStrategy bought their fair share of Bitcoin in this recent dip. Justin Sun is the CEO of Tron and BitTorrent, and given that he is not a stranger to the concept of decentralization or why it should be in practice more, thus the new Bitcoin buy. After buying the dip, the price of the flagship digital asset corrected around $40k, so it can be fairly said that the investment Sun made is already in profit, and with more increase in price, it could pose a serious return on investment.