Controversial Tron founder Justin Sun has offered to buy the remaining $2.3 billion worth of Bitcoin seized by the German government, which appears to be sold on exchanges at market prices.
Earlier today, Germany moved $75 million worth of BTC to exchanges, sending markets tumbling. The move follows several similar transfers by the German government in the past two weeks totaling hundreds of millions of dollars. As of this writing, the price of Bitcoin has fallen to $56,892.53, according to CoinGecko — down 5% since this time yesterday and 7% from a week ago.
“I am willing to negotiate with the German government to purchase all BTC OTC to minimize market impact,” Sun wrote on Twitter Thursday afternoon.
It’s unclear how serious Sun is about buying $2.3 billion worth of BTC, or whether he’s been contacted through any official channels. Whenever the cryptocurrency market looks like it’s in danger, the Tron founder tries to play the hero, or at least appears to do so in public. Neither Sun nor Germany’s Federal Criminal Police Office (Bundeskriminalamt) immediately responded to Decrypt’s request for comment.
Regardless, blockchain analytics firm Arkham Intelligence found more than $1 billion worth of funds in crypto wallets associated with Justin Sun. Not surprisingly, the crypto Twitter community supported the suggestion — serious or not — that law enforcement has better ways to sell its seized assets.
There were a few people willing to donate $20, others volunteered to do the negotiations, and some of the lower market cap coins copied his tweet and used it to promote their own projects.
Of course, there were also a lot of memes.
According to Arkham Intelligence, at least $300 million has been put up for sale in just one of the five wallets associated with Germany’s BKA.
This included $94 million worth of Bitcoin transfers to Coinbase, $84 million to Kraken, and $91 million to Bitstamp. The same wallet, which currently contains $2.3 billion worth of Bitcoin, also sent $44 million to Amsterdam-based market maker Flow Traders.
When Germany first seized $2.1 billion worth of Bitcoin in late January, Bitcoin was trading just over $46,000 at the time. In March, when BTC hit an all-time high above $73,000, the wallet balance surged to $3.6 billion. The 50,000 Bitcoin balance in the wallet remained stable until the first outflow hit the market on June 20.
Sun Ge lost a lot of money. I have been adding positions crazily during this period, but the stock price has fallen so much. It is a bull market at this stage, so I have already started rolling positions.
#非农就业数据即将公布 #德国政府转移比特币 #美国首次申领失业救济人数超出预期 #BTC #ETH
