Tron founder Justin Sun has declared that Wrapped Bitcoin (WBTC) has effectively become the United States’ national Bitcoin reserve.

The statement comes amid an inadvertent feud between two Bitcoin wrappers- Bitgo’s WBTC and Coinbase’s cbBTC, with Donald Trump’s DeFi project expressing a vested interest in the former.

Is WBTC the De Facto US National Bitcoin Reserve?

The Tron founder took to social media to explain his perspective, articulating the favor WBTC continues to enjoy from Donald Trump-backed DeFi project, World Liberty Financial (WLFI).

“WBTC has become the US national Bitcoin reserve in name. Is there any president other than Donald Trump who diligently buys Bitcoin daily? Trump is ‘the one and only Bitcoin president,’” Sun wrote.

Sun’s comments draw from a recent purchase by World Liberty Financial, which is highly endorsed by the Trump family. Lookonchain reported that the DeFi project acquired an additional 94.94 WBTC valued at $9.84 million on Thursday.

SpotOnChain corroborated, adding that in three days, the fund had invested $56.82 million in 534.1 WBTC at an average price of $106,379.

“The Trump team has chosen WBTC and decided to support it through action once again,” Wrapped Bitcoin’s official X account quipped.

In December, the DeFi venture cleared its cbBTC portfolio of 102.9 tokens worth $10.4 million to acquire 103.15 WBTC. The following day, Sun was Go to Source to See Full Article
Author: Lockridge Okoth

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