Tron Buys BitTorrent

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BitTorrent has been sold to blockchain startup for an alleged $140 million

What's the Story?

  • Tron purchased BitTorrent for $140MM
  • BitTorrent claims 170M users and previously raised $60MM from VCs such as Sequoia
  • No announced plans on what Tron's plan is for BitTorrent

Why Does This Matter?

Tron has a significant war chest from its ICO. It's token is currently valued at around ~$3B. The purchase of BitTorrent is putting some of that capital to work. I still believe Tron is worthless. It plagiarized its white paper and purchasing BitTorrent is just an attempt to spark its token price. While Tron is a media blockchain company, and in theory, the acquisition does align with its mission, I don't see how Tron is really going to create synergy with this purchase. Tron most likely is trying to create hype as they plan to launch their main net this week. I don't expect much out of this acquisition.