Advisor to the HTX crypto exchange (formerly Huobi) and founder of the TRON project, Justin Sun, said that he is ready to negotiate with the German government and buy back the entire volume of bitcoins. On July 4, 2024, the authorities of this country sold $173 million worth of crypto assets.
According to Sun, this is an over-the-counter transaction that will not affect the crypto market and the value of the asset. At what price the founder of TRON is ready to buy bitcoins, he did not say.
Let us recall that in January 2024, Arkham Intelligence experts discovered a German government crypto wallet with $2.8 billion worth of bitcoins. At the same time, assets began to be withdrawn from it in mid-June.
On July 4, 2024 alone, a total of 3,000 BTC was sent from the wallet to crypto exchanges. Selling that much of the first cryptocurrency could impact its price, increasing selling pressure.
Sun is keen to avoid this, so HTX's advisor suggested an over-the-counter trade.
The exact origin of the funds in the German government crypto wallet is unknown. However, at the same time, in January 2024, authorities confiscated 50,000 BTC as part of a case of illegal distribution of digital content.
It is noteworthy that earlier Arkham Intelligence analysts estimated Justin Sun’s net worth at $1 billion.
On July 4, 2024, Bitcoin fell below $58,000. Against the backdrop of news about the sale of assets from the wallet of the German authorities, the price of the asset immediately dropped below $57,000, but then partially recovered.
