Tron founder Justin Sun has offered to buy the German government’s Bitcoin holdings worth over $2.3 billion.
The popular crypto founder said he is potentially willing to purchase Bitcoin (BTC) off-market to reduce the negative price impact of selling.
Sun announced the offer in a July 4 X post to his 3.5 million followers:
“I am willing to negotiate with the German government to purchase all BTC off-market in order to minimize the impact on the market.”
The German government-labeled wallet first raised suspicions of Bitcoin selling on June 19, when it executed a transfer of 6,500 BTC, valued at over $425 million.
Market selling the remaining holdings could have a negative impact on Bitcoin price, which is why the wallet became a hot topic among traders.
Before the first transfer, the wallet held nearly 50,000 BTC since February 2024. The funds are believed to have been seized from the pirate movie website operator Movie2k.
Related: World’s largest Bitcoin miner didn’t sell any BTC in June
This is a developing story, and further information will be added as it becomes available.