TRON founder Justin Sun announced that he plans to deliver a $ 20 million free airdrop to a random winner in addition to a giveaway for a Tesla vehicle.
$ 20M Cash Airdrop from Justin Sun.
Justin Sun, the founder of TRON (TRX) – the world’s 10th largest cryptocurrency by market capitalization – has announced plans for a $ 20 million free cash airdrop.
However, prior to the launch, Sun will also be giving away a Tesla vehicle to a randomly selected winner.
“To celebrate the success of BTT & USDT-TRON, I am planning a free airdrop of USD 20 million. Good news – bad news – I can choose to give away more! First, I’ll randomly pick 1 winner for a Tesla by March 27th! To apply, follow me and RT on this tweet! Easy!”
To celebrate the success of #BTT & # USDT– # TRON, I’m planning a $ 20 million free cash airdrop. Good news – bad news – I can choose to give away more! First I will randomly get 1 winner for a #Tesla until March 27th. Choose! To apply, follow me and RT on this tweet! Easy! #Blockchain pic.twitter.com/wFyzwtB3ur
– Justin Sun (@justinsuntron) March 12, 2019
Apparently the first phase of the Tesla giveaway will end on March 27th and those who wish to participate will need to follow Sun on Twitter and retweet his post. So far it has been retweeted over 29,000 times.
No additional information will be shared for the second part of the initiative, which includes the $ 20 million cash airdrop.
The entire stunt celebrates the success of BitTorrent Token (BTT) and the recent partnership between Tether (USDT) and TRON (TRX). As Bitcoinist reported, Tether is to be added to TRON’s blockchain.
$ 20 million – why not?
While $ 20 million sounds like a lot of bucks for a giveaway, Justin Sun’s recent moves have brought in a lot more.
BitTorrent had its first coin offering (ICO) in January via the Binance Launchpad. It ended in less than 15 minutes, selling $ 7.2 million worth of BTT tokens at a price of $ 0.00012 per inhabitant. At the time of this writing, BTT is trading at $ 0.00075 – a six-fold increase in any investment in the digital tokens during the sale.
It’s also worth noting that, according to BitTorrent’s token allocation plan, 20 percent of total supply is held by the TRON Foundation, 19.9 percent by the BitTorrent ecosystem, and 19 percent by the “team.” The total supply of BTT is 990,000,000,000. In other words, roughly 594 billion tokens are held by companies owned by Justin Sun. At current prices, that’s around $ 445,500,000.
What do you think of Justin Sun’s $ 20 million cash airdrop and Tesla giveaway? Don’t hesitate to let us know in the comments below!
Images courtesy of Shutterstock, Twitter.