Justin Sun Says He Shifted Entire Net Worth Into Crypto in 2012 as ‘System Upgrade’
Summary
- Justin Sun said he converted his entire net worth into cryptocurrency in 2012, calling it a “system upgrade” rather than a way to make money.
- He described traditional assets such as real estate and cars as assets of a past era, and said cryptocurrencies such as Bitcoin represent a new technology and asset system.
- He also highlighted rising data storage demand driven by advances in AI, saying his early positive view on the data center sector was based on that trend.
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Justin Sun, founder of Tron (TRX), said he converted his entire net worth into cryptocurrency in 2012.
Sun said on a recent podcast that he had moved all of his assets into crypto after 2012, according to BlockBeats on Oct. 9. He described the decision as a “system upgrade” to adapt to changing times, not an attempt to make money.
He called traditional assets such as real estate and cars “assets of a past era.” Cryptocurrencies such as Bitcoin can be recognized by machines, he said, and adapting early to new technology and a new asset system is important.
Sun also cited rising demand for data storage as artificial intelligence advances. Explaining his early positive view on the data center sector, he said the call reflected the trend rather than vested interests.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul