Justin Sun Wants to Buy Germany's $2.3B Bitcoin Stash, Community Reacts

Justin Sun claims to be interested in buying the German government's extensive Bitcoin stash, estimated to be valued at $2.3 billion.

Tron founder Justin Sun has expressed interest in purchasing the German government’s extensive Bitcoin (BTC) stash off-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, valued at $2.3 billion, according to the Arkham Intelligence dashboard.

Market experts pointed out that these activities had further contributed to the 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.

Sun, who is known for his flamboyant personality and close ties to the Chinese Communist Party, made his intentions known in a July 4 statement on X, a multi-chain decentralized application (dApp) platform. He 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.”

Community members pointed out that Sun's tweet follows a pattern of inserting himself into the story, while some questioned if he would be able to pass the due diligence involved in the transaction process.

Oluwapelumi Adejumo values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

Also known as "Akiba," Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.

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