Justin Sun wants to purchase Germany’s Bitcoin holdings
Justin Sun, the visionary behind Tron, has publicly announced his willingness to acquire Germany's Bitcoin reserves through direct, over-the-counter deals. This strategy is specifically designed to prevent any undue disturbance to the broader market.
Sun stated on X, that he is prepared to engage in discussions with the German government to acquire all of their Bitcoin holdings via off-market deals, thus safeguarding the market from any negative effects.
His strategy is set to ensure the seamless execution of a major acquisition without triggering the usual fluctuations in the market that large transactions often cause.
This revelation came in the wake of news that the German government had moved 1,300 Bitcoin, valued at roughly $75.5 million earlier in the day, based on information from Arkham Intelligence. At present, they possess about $2.3 billion in Bitcoin assets.
The transfer of the Bitcoin holdings to three centralized exchanges: Bitstamp, Coinbase, and Kraken marked the most significant recent shift to such platforms. The intention behind this transfer remains a topic of debate, leading to widespread conjecture about the government's strategies for asset reassignment.
Heightened attention was drawn to the German government's crypto wallet last month when it conducted a transaction of 6,500 BTC, valued over $425 million at the time. This occurred before the wallet's balance plummeted from nearly 50,000 BTC. It's widely understood that these assets were confiscated from the operator of the pirate movie website Movie2k.
