Justin
Sun
claims
to
be
interested
in
buying
the
German
government’s
extensive
Bitcoin
stash,
estimated
to
be
valued
at
$2.3
billion.
In
a
July
4
statement
on
X,
the
Tron
founder
said:
“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
authorities
acquired
the
BTC
holdings
earlier
in
the
year
when
they
seized
nearly
50,000
BTC
from
the
piracy
site
Movie2k.to.
Last
month,
the
government
began
divesting
some
of
these
assets
via
centralized
exchanges
like
Coinbase,
Bitstamp,
and
Kraken.
As
of
press
time,
it
had
sold
the
Bitcoin
to
a
balance
of
40,359
BTC,
worth
$2.3
billion,
according
to
the
Arkham
Intelligence
dashboard.
Market
experts
pointed
out
that
these
activities
had
further
exacerbated
the
current
selling
pressure
on
the
flagship
digital
asset,
which
has
declined
by
around
20%
during
the
past
30
days
to
a
two-month
low
of
$57,089.
Community
reacts
While
several
community
members
welcomed
Sun’s
intention,
some
pointed
out
that
the
tweet
follows
his
pattern
of
“inserting
himself
in
the
story.”
Meanwhile,
Mikko
Ohtamaa,
the
CEO
of
Trading
Strategy,
opined
that
while
Sun
has
the
personal
funds
to
pull
off
the
deal,
any
European
government
would
be
unwilling
to
sell
to
a
non-compliant
buyer
to
prevent
the
assets
from
returning
to
criminals.
He
wrote:
“Mr
Sun
has
$7
billion
in
his
personal
assets,
so
he
could
actually
pull
this
off.
However
any
EU
government
is
unwilling
to
sell
to
non-compliant
buyer
(BTC
would
return
to
the
hands
of
criminals).”
Similarly,
Simon
Dixon,
the
CEO
of
BnkToTheFuture,
questioned
if
Sun
could
pass
the
due
diligence
involved
in
the
transaction
process.
Over
the
past
year,
Sun
has
faced
considerable
legal
challenges,
with
the
US
Securities
and
Exchange
Commission
(SEC)
alleging
that
he
and
his
companies
violated
local
securities
law.
Mentioned
in
this
article
Go to Source
Author: Oluwapelumi Adejumo
