Justin Sun, founder of Tron, has offered to purchase the Bitcoin holdings of the German government off-market, aiming to minimize the market impact of the sales. Germany’s government has already transferred approximately $175 million worth of Bitcoin to exchanges since June 19, potentially for future sales.
The German government’s Bitcoin stash, nearly 50,000 BTC valued at over $2 billion, was seized by the Federal Criminal Police Office in 2013 from the movie piracy website Movie2K.to. The recent transfers, combined with $9 billion worth of Bitcoin payouts to Mt. Gox creditors, have significantly impacted Bitcoin’s price, causing a downturn in the broader crypto market.
In a post on social media platform X, Sun expressed his willingness to negotiate with the German government for an off-market purchase. Despite Sun's digital assets, excluding the Bitcoin and potential Mt. Gox distributions, the crypto market has been trending downwards. As of the latest data, Bitcoin's price dropped over 5% to $57,057, with other major cryptocurrencies following suit.