Justin Sun Offers to Buy Germany's Bitcoin Holdings
Justin Sun, founder of Tron (TRX), has offered to purchase the Bitcoin holdings of the German government. This move aims to alleviate the selling pressure on Bitcoin, which has been impacted by Germany's recent sales of seized Bitcoins.
Background:
- German authorities seized tens of thousands of Bitcoins from illegal platforms in recent months.
- The government sent a portion of these coins to cryptocurrency exchanges, worth tens of millions of dollars.
- Arkham CEO noted that these coins were likely sent to central exchanges for sale.
- Justin Sun expressed his willingness to negotiate with the German government to buy their remaining BTC holdings, estimated to be around 40,359 Bitcoins (worth $2.33 billion).
Context:
- Germany's transactions have contributed to increased selling pressure on Bitcoin, which fell below $58,000 today.
- According to Bitcoin Treasuries data, Germany has one of the largest Bitcoin wallets among states, ranking after the USA, China, the UK, and Ukraine.
