Tron Founder Justin Sun Offers to Buy German Government's $2.3B Bitcoin Holdings

Tron founder Justin Sun has offered to buy the German government's Bitcoin holdings worth over $2.3 billion. Sun announced his offer on July 4 via a post on X to his 3.5 million followers.

Tron founder Justin Sun has offered to buy the German government’s Bitcoin holdings, which are currently valued at over $2.3 billion, according to a report by CoinChapter.

Sun announced his offer on July 4 in a post on X 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,”

Sun stated.

The German government’s wallet has been actively selling Bitcoin, which has raised concerns among market participants.

The German government-labeled wallet first sparked suspicions of selling on June 19. On that day, it transferred 6,500 BTC, valued at over $425 million. This movement suggested potential future sales, which could impact Bitcoin prices.

The wallet has held nearly 50,000 BTC since February 2024. These funds were seized from the operator of the pirate movie website Movie2k.

The German government has been steadily selling Bitcoin since mid-June. The latest transfer, on July 4, saw $172 million worth of Bitcoin being sent to multiple crypto wallets, including centralized exchanges.

Specifically, $75 million worth of Bitcoin was transferred to Coinbase, Kraken, and Bitstamp. This suggests ongoing preparations for sales. On July 2, the wallet moved $52 million worth of BTC, distributing it to Coinbase, Bitstamp, and Kraken.

The Arkham Intelligence platform has tagged the crypto wallet as belonging to the “German Government (BKA),” referring to Germany’s Federal Criminal Police Office. However, the BKA itself does not hold the Bitcoin. The BKA seized the 50,000 BTC in January from Movie2k’s operator.

Kristina Sawazki, a BKA spokeswoman, explained:

“In principle, the sale or conversion of seized Bitcoins into Euros is the responsibility of the relevant public prosecutor’s office or court.”

She clarified that the proceeds from these sales are managed by the Land Revenue Office, where the competent court is located. The BKA’s role is to preserve the crypto assets seized during investigations.

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