In the Wu Blockchain interview, Justin Sun shared his bold decision to sell 80%-90% of his Ethereum holdings and allocate his portfolio to a selection of US crypto stocks. This comes as the TRON CEO sees massive opportunity in the US market amid what he termed a sluggish performance of Ethereum cryptocurrency.
Why Justin Sun sold his Ether holdings
The founder and CEO of TRON Foundation recently announced that he sold most of his Ethereum holdings. In the recent interview, Justin Sun confirmed that he sold 80%-90% of his personal Ether assets. The interesting event marks his allocation strategy to maximize returns in the US equity market conditions, as he expects US crypto stocks to outperform Ethereum in the near future.
Sun’s decision to withdraw from the market is seen as a personal choice, triggered by what he described as Ethereum’s ‘double top pattern’. According to the TRON executive, Ether appears to have formed a fragile double top pattern. His clever analysis identified a continuous, bearish pattern that has built a persistent downtrend, which has been hampering profit-making in the ETH market.
The persistence of the ‘fragile double top pattern’ prompted him to cut his Ether positions sharply, while leaving his Bitcoin holdings unchanged, the executive revealed.
Sun on US crypto stocks investments
Sun’s decision to sell huge chunks of his Ethereum holdings and allocate the funds to US crypto stocks is driven by undervaluation and diversification factors.
He believes that Ethereum is currently non-performing, presenting him with an opportunity to invest the funds in other assets with growth potential. By allocating his Ether funds to US crypto stocks, the renowned investor aims to diversify his portfolio and mitigate risks associated with investing in non-performing assets.
Sun believes that U.S.-listed crypto-related stocks are undervalued, yet have strong market capability. In another Wu Blockchain interview shared earlier today, the TRON CEO revealed his decision to invest in the US-based crypto-related stock, World Liberty Financial (WLFI) . In the podcast, he reaffirmed that if given another chance, he would inevitably reinvest in WLFI.
In November 2024, Sun bought $30 million in WLFI tokens, an investment that made him the largest investor in the DeFi platform backed by US President Trump.
