💥WILL A $2,300,000,000 TRADE SAVE THE BITCOIN PRICE?💥
Tron founder Justin Sun has proposed purchasing the German government’s $2.3 billion Bitcoin holdings off-market to mitigate potential market impact.
📰 1. The Offer:
Justin Sun, founder of Tron, publicly announced on July 4th to his 3.5 million followers on X that he is willing to negotiate with the German government to buy their Bitcoin holdings off-market. This move aims to prevent a significant drop in Bitcoin prices.
📢 Justin Sun’s Statement:
“I am willing to negotiate with the German government to purchase all BTC off-market in order to minimize the impact on the market.”
2. The Background:
The German government’s wallet, tagged by Arkham Intelligence as “German Government (BKA),” has been steadily selling its Bitcoin holdings, stirring concerns in the crypto community. The wallet first drew attention on June 19 with a transfer of 6,500 BTC (worth over $425 million). The wallet initially held nearly 50,000 BTC, believed to have been seized from the Movie2k piracy site operator.
3. Latest Movements:
The wallet has been active in transferring large sums of Bitcoin:
July 4: $172 million worth of BTC was transferred to multiple crypto wallets, including $75 million to Coinbase, Kraken, and Bitstamp.
July 2: $52 million worth of BTC moved, with specific transfers to Coinbase, Bitstamp, and Kraken.
🚨 Impact on the Market:
Potential Market Pressure:
Continuous selling by the German government threatens to apply sustained downward pressure on Bitcoin’s price. This could be particularly destabilizing, especially with BTC recently dropping below the critical $60,000 mark.
Justin Sun’s Intervention:
Sun’s offer to purchase the BTC off-market could stabilize Bitcoin prices by preventing a large-scale sell-off. This move is seen as a strategic effort to protect the market.
What do you think about this move?
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