The price surge after reports suggesting its founder Justin Sun is in the final stages closing a deal to acquire BitTorrent for $140 million in cash, the company behind the popular torrent client uTorrent.
Spectator says Acquiring BitTorrent may be used to help legitimize Tron, a move that’s seen as necessary after it was accused of plagiarizing FileCoin and Ethereum. Neither Sun nor BitTorrent has publicly come forward about the acquisition, yet looking at BitTorrent blog they say they have no plans to enable mining of cryptocurrency now or in the future.
“Our attention has been drawn to the news items that have appeared in the past few weeks speculating about a change in BitTorrent’s business model.
We wish to reiterate that BitTorrent has no plans to change what we do or charge for the services we provide. We have no plans to enable mining of cryptocurrency now or in the future.
BitTorrent has been a pioneer of peer-to-peer file sharing and we believe our vision of democratizing the Web by enabling decentralized, resilient access to information remains as relevant as it was when we started.
We reiterate that we are committed to our hundreds of million users worldwide and will continue to invest and innovate in the BitTorrent and uTorrent products.”
We have to wait in a couple weeks to see what happen next because with cryptocurrency things can change in seconds.