CryptoBitcoinTron Founder Justin Sun Proposes Acquisition of Germany's Seized Bitcoin

Tron Founder Justin Sun Proposes Acquisition of Germany’s Seized Bitcoin

Justin Sun, founder of Tron, has made a bold proposition to acquire the remaining $2.3 billion worth of Bitcoin seized by the German government. This move comes amidst a series of significant Bitcoin transfers initiated by Germany aimed at liquidating the cryptocurrency, actions that have already reverberated across the market, triggering a notable selloff.

Earlier today, Germany executed another transfer, moving $75 million worth of Bitcoin to exchanges, further intensifying market reactions. This follows a string of similar transactions over the past fortnight, totaling hundreds of millions of dollars in Bitcoin. Currently, Bitcoin stands at $56,892.53, marking a 5% decline since yesterday and a 7% drop over the past week.

“I am prepared to engage in discussions with the German government to acquire all BTC through off-market channels to mitigate market impact,” tweeted Sun on Thursday afternoon. According to blockchain analytics firm Arkham Intelligence, Sun’s crypto wallet holds slightly over $1 billion.

Arkham Intelligence has also identified that one of the five wallets linked to Germany’s Federal Criminal Police Office (BKA) has already liquidated at least $300 million in Bitcoin. Notable transfers include $94 million to Coinbase, $84 million to Kraken, and $91 million to Bitstamp. Additionally, this wallet, currently holding $2.3 billion in Bitcoin, transferred $44 million to Amsterdam-based market maker Flow Traders.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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