Justin Sun says he is moving to Hong Kong, warns community about being ‘too US-centric’
TRON (TRX) founder Justin Sun said in a Twitter thread on Jan. 29 that he would be moving to Hong Kong as the Chinese cryptocurrency market is rising.
Sun added that experts expected the Asian country to dominate the next bull market.
The Sun is bullish on China
crypto entrepreneur It pointed out The Chinese crypto market has a strong track record of adoption and innovation, adding that the country has a large community of traders and developers.
“With this in mind, we have decided to move to Hong Kong to be closer to action and to take advantage of opportunities in the Asian market.”
Sun said he moved to the region because Tron was looking to expand its reach in Hong Kong, while his exchange, Huobi, is more focused on the Hong Kong market. , added that as the crypto market matures and adoption grows, China’s dominance is becoming more evident.
Former BitMEX CEO Arthur Hayes previously predicted the next bull market would begin when China returned to the market. Hayes added that Hong Kong is playing a pivotal role in the move.
Meanwhile, the Chinese government appears to be softening its stance on cryptocurrencies. The government recently launched its first regulated NFT trading platform, and Chinese app Little Red Book recently integrated Conflux, a layer-1 blockchain network.
Warn community for being ‘America-centric’
Founder of Tron advised The crypto community should not be “too US-centric” as the country is not the only major player in the crypto industry.
Justin Sun said the cryptocurrency community should focus on educating and building partnerships with governments around the world, not just one country.
Sun said:
“If 7.7 billion people on earth adopt cryptocurrencies as legal tender, I believe 300 million people in the United States will eventually follow suit.”
“Buying and selling” goods and services is not the only use case for cryptocurrencies as legal tender, Sun added. According to him, cryptocurrencies “give people more control over their financial futures.”
