Tron Inc. has expanded its digital asset reserves, doubling the size of its TRX treasury in a move that positions the company as the largest public holder of the blockchain’s native token.

The news underscores Tron Inc.’s growing bet on the future of the TRON network, even as analysts point to the risks of relying on a self-issued asset as collateral.

Notably, the TRX treasury expansion comes after Bravemorning Limited, Tron Inc.’s largest shareholder, exercised warrants worth $110 million to purchase restricted common shares.

The transaction increased Bravemorning’s overall investment in Tron Inc. to $210 million, giving it an 86.6% controlling stake.

In turn, Tron Inc. added 312.5 million TRX tokens to its treasury, raising its total holdings to more than $220 million.

Chief Executive Officer Rich Miller said the move strengthens Tron Inc.’s status as the biggest public holder of TRX tokens and reflects confidence in the network’s long-term growth.

Miller noted that the enlarged treasury provides the company with more flexibility to pursue opportunities in blockchain adoption, digital payments and Web3 infrastructure.

In addition, Tron Inc.’s decision to expand TRX holdings also comes as the TRON blockchain cements its role in global stablecoin settlement.

As of late August, the network hosted over 328 million user wallets and about $82.6 billion worth of TRC-20 tether, representing nearly half of USDT in circulation.

TRON processed around $5.5 trillion worth of USDT settlements in 2024.

That momentum has continued in 2025, with the first half alone recording $3.6 trillion, a near 50% increase from the previous year’s pace, giving the blockchain a reputation as the dominant settlement layer for dollar-backed tokens.

Tron Inc. only came into existence in June following a reverse merger with SRM Entertainment.

That deal brought in $100 million in equity financing along with warrants and preferred shares worth $210 million. It also resulted in Tron founder Justin Sun joining as an adviser.

The rebranding marked a shift from SRM’s traditional toy and merchandise business toward blockchain-driven treasury management and digital assets.

Nevertheless, Tron Inc. still maintains its legacy operations through a subsidiary that designs and distributes souvenirs for theme parks such as Disney, Universal and SeaWorld.

In July, the firm filed with regulators to raise as much as $1 billion through a mix of stock, debt, warrants and rights. The proposed funding would be used to expand the company’s TRX reserves and support the growth of its Web3 units.

Tron Inc.’s stock, which trades on Nasdaq under the ticker TRON, has soared since the company’s rebranding.

The Tron Inc. shares have gained more than 1,100% over the past six months and are currently trading around $4.30.

Meanwhile, TRX itself has not experienced a sharp price rally following the treasury expansion. The announcement, however, halted a week-long decline, raising hopes of a rebound.

Some market observers, however, warn that Tron Inc.’s strategy of owning TRX tokens carries risks.

By holding its own native token as a reserve asset, the company exposes itself to the danger of a circular feedback loop in which a drop in TRX’s value could also undermine confidence in Tron Inc.’s financial position.

Despite those concerns, Tron Inc. continues to frame its growing treasury as a symbol of strength.

With backing from its dominant shareholder and the guidance of Justin Sun, the company is staking its future on TRON’s role at the centre of blockchain-based finance.

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