TRON (TRX) Finally Goes Through with the Purchase of Bittorrent

TRON (TRX) Finally Goes Through with the Purchase of Bittorrent
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After several weeks of speculation and gossip as to whether Justin Sun’s TRON will purchase BitTorrent, the newest reports are in confirming that the deal is done. BitTorrent is now officially owned by TRON, and the reports claim that the deal is valued at $140 million.

BitTorrent now belongs to TRON

Ever since the information that TRON might buy BitTorrent was leaked earlier this year, in May, the internet has been speculating and awaiting the official announcement. According to the leak, BitTorrent was in negotiation with TRON’s founder, Justin Sun, since September 2017.

TRON wanted BitTorrent despite everything

When it comes to BitTorrent, it appeared to be in great need of the buyout. Not only did the company have outstanding legal issues, but it also failed to deliver on its investors’ expectations. Failing to generate returns lost it support and led to its highest valuation only reaching around $145 million. The company had been suffering performance-wise since its launch in 2004.

This is when TRON entered the picture and offered to buy the company. Its motives were unclear at the time, and never publicly disclosed, but it seemed that its interest lies in BitTorrent’s reputation and, more importantly, its infrastructure.

TRON (TRX) Finally Goes Through with the Purchase of Bittorrent

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Kane Dane