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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