stock.Despite all being trapped, he still predicts that as young people flood into financial assets, investment patterns will change.
Just when Elon Musk announced that Tesla
In the same week that he had bought $15 billion in bitcoin, Justin Sun stated that a new type of Internet-driven investment will benefit the encrypted digital currency and the stocks of companies that can understand and grasp the "Meme culture".
Justin Sun said that he intends to continue to hold the game station stock that he bought near the high point at the end of last month in order to use the adrenaline surge to attract retail investors to buy the so-called Meme stock.He also bought $100 million in AMC stock and $100 million in silver.Justin Sun said that the market value of the game station stock he held had fallen to US$200 million, which meant that the book loss reached 80%.
"I think I will continue to hold it," Justin Sun said in an interview with foreign media. "Even if I lose money on the stocks, I still believe this is a paradigm shift. In the past, we all followed the advice of financial analysts; now, people will make their own decisions."
In the last week of January, driven by Reddit forums and Discord chats, retail investors flocked to buy the shares of Game Station, which pushed the stock's share price to soar by nearly 1 times, bringing to professional hedge funds that short the stock of this video game retailer. Great pain.However, after that, the share price of Game Station has fallen from a peak of US$7 to about US$483, passing the loss to retail investors who bought at the top and triggering a change in whether this community-driven transaction can continue. Discuss extensively.
Justin Sun founded the blockchain business TRON in 2017 and has since expanded to other decentralized technologies and platforms, such as BitTorrent
Inc, Steemit and DLive. In 2019, he played in Warren Buffett (Warren
Buffett’s annual charity auction spent a record $460 million for lunch with the elderly investor, making headlines.
Justin Sun said that when he had lunch with Buffett last year, he suggested that Buffett buy Bitcoin and Tesla stocks. "Elon Musk
Musk is not only the CEO of a company, he is also a representative of Meme culture, a representative of a new generation of sports.In the future, this community-driven trend requires corporate CEOs to participate more in the community and have their own fan base. "
Justin Sun also invested in the Chinese version of "ClubHouse"-TWO.He said that ClubHouse is "a very effective way for people to expand their social networks."
At the same time, the TRON coin related to the TRON Foundation has not benefited from the enthusiasm of retail investors like some other encrypted digital currencies in recent months.According to the latest ranking of CoinMarketCap, the total market value of Tron has fallen to 20th.Justin Sun said that he will hire more celebrities and artists to better position TRON as a "Meme-friendly" encrypted digital currency. "Meme is very important in the world of encrypted digital currencies," he said.
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