Tron founder Justin Sun has expressed his willingness to buy German Bitcoin holdings through OTC transactions, an approach that would avoid significant market disruptions.
“I am willing to negotiate with the German government to buy all BTC off the market to minimize the impact on the market,” Sun stated in a recent post on X.
I am willing to negotiate with the German government to purchase all BTC off-market in order to minimize the impact on the market.
— HE Justin Sun (@justinsuntron) July 4, 2024
His plan aims to facilitate large-scale acquisitions without causing the market ripple effects typically seen in such large deals.
Sun’s statement comes shortly after the German government transferred another 1,300 Bitcoin, or about $75.5 million, earlier today. The government now holds about $2.3 billion in Bitcoin.
The Bitcoin was sent to three cryptocurrency exchanges: Bitstamp, Coinbase, and Kraken. It is also the largest recent transfer to centralized exchanges. The purpose of the move remains unclear, raising speculation about the government’s potential liquidation or asset reallocation strategies.
A wallet labeled as belonging to the German government raised suspicions about its ability to sell Bitcoin last month when it transferred 6,500 BTC worth more than $425 million. Prior to that transaction, the wallet held nearly 50,000 BTC, which were allegedly seized from the operator of the pirated movie website Movie2k.
Itadori
Bitcoin Magazine
