Justin Sun shifts Ethereum holdings into US technology stocks

TRON founder Justin Sun has significantly reduced his Ethereum position, selling between 80% and 90% of his holdings when the cryptocurrency was priced between $3,600 and $4,000. Sun stated in a recent interview that he has not repurchased the sold tokens, retaining only a smaller core position as a base asset.

Sun redirected the proceeds primarily into US equities, with a heavy focus on the technology sector. His primary US equity position is Nvidia, driven by the company's prominence in artificial intelligence. He also maintains a substantial allocation to the Nasdaq-100 index.

While Sun remains optimistic about AI applications and Web3, he expressed a slightly bearish outlook on the Nasdaq-100 due to concerns regarding rising interest rates and capital concentration among large companies. In contrast to his Ethereum sale, Sun reported that his Bitcoin holdings remain unchanged and are stored in cold wallets to mitigate risks from AI algorithms and quantum computing.