Justin Sun, the founder of Tron recently announced that his investment in GameStop suffered deficit as it dropped to about $2M. The founder who had initially invested $8 million has said he is still willing to hodl.
Investing Risk
Justin Sun joined several others who invested in meme stocks. The pull was so strong that it affected the wall street, however normalcy has returned as the prices of these meme stocks are back to their former range.
In the middle of this excitement of buying, GameStop, AMC, Blackberry, Nokia, and silver Justin Sun partook as well.
He unlike others went large on his investment and he is now in loss.
Justin Sun $10M Gamble
In the latter part of January 2021, Justin Sun decided to invest in GameStop. Interestingly he decided to go large. Announcing on his twitter page, Sun said investing $1M “doesn’t seem enough” he opted to buy $10M instead.
A few days later, he announced via his twitter page that he was investing in another stock. He invested a $1 million silver purchase in $AMC.
Unfortunately, both stock dropped as both went into a tailspin.
In a chat with Bloomberg, Justin Sun declared that he had truly lost funds. He said his former $10M investment was now worth a meager $2M.
The Bright Side of The Loss
Justin Sun said despite his loss on the GME stock he is still going to hodl. As quoted on Bloomberg, the Tron founder said;
“I think I’m going to hold. Even if I lose money on the GME stock, I still believe this is a paradigm shift … In the past we all followed the advice from the financial analysts, and these days people are going to make their own decisions.”
Although the $200 million worth founder lost part of his fortune in the stocks, things are going well for his company.
This move gave him the entryways to a forum of a few million clients in a gathering that in a real sense precludes conversations about digital currencies.
Plus, when his misfortunes were known, Tron his digital currency turned into a worldwide trending topic, detailing gains of practically 35% in a week.
