Justin Sun, founder of Tron (TRX), revealed his aspirations for the new year in cryptocurrencies on January 29. His goal is to have the TRX digital asset adopted as legal currency in five different countries. He said on Twitter that this is just the beginning of the broader adoption of cryptomoney in general.
According to Sun, the goal is ambitious but with dedication and hard work it could be achieved.
In a January 28 tweet, Justin Sun announced that a “major” country would soon legalize TRX as a legal tender. According to him, this will allow the crypto tokens in his ecosystem to be recognized by authorities as a legitimate method of payment for goods and services.
He added that government adoption of TRX would enhance the legitimacy and use of cryptocurrency, as well as the general public’s sense of trust and security in digital currencies.
Justin Sun also highlighted the additional benefits of adopting TRX, he said it would encourage more businesses and merchants to accept TRX as a payment option, which would encourage people to spend the token with confidence.
“This will also increase the overall value of TRX as the demand for the coin increases. With more people and businesses willing to use and accept TRX, the demand for the coin will increase, leading to an increase in its value.”
Tron has already been adopted as legal tender in St. Martin and Dominica. While Bitcoin has also been adopted as legal tender in El Salvador and the Central African Republic.
Justin Sun advises against too much focus on the United States
Justin Sun gave clear advice to the crypto community : don’t focus too much on the United States. According to Sun, while the U.S. is a major player in the crypto industry, other policies around the world are also crucial to the future of crypto. He added that if cryptocurrencies were to be adopted as legal currencies by 7.7 billion people worldwide, the 300 million Americans will also follow suit.
He points out that the adoption of cryptocurrencies as legal tender is not just about the ease of buying and selling goods and services, but also offers people more control over their financial future.
Justin Sun aspires to focus not just on one country, but on the entire world for the future of cryptos.
Tron (TRX), soon a legal currency ?
To become a legal currency, a currency must meet three criteria : be a unit of account, a medium of exchange and a store of value. TRX, the cryptocurrency developed by Tron, can theoretically become a legal currency if a country recognizes it as such. However, it is important to note the differences between TRX and Bitcoin, which has already been adopted as a legal currency by some nations.
Bitcoin has a limited supply of 21 million units and is not dependent on a central authority, which is not the case with TRX, which has a potentially unlimited supply and is supervised by the Tron DAO. It is therefore necessary to consider the advantages of TRX over a traditional currency.