Tron’s Justin Sun Offers To Purchase 41,500 BTC At 10% Markdown From US Government

Key Points:

Tron organizer Justin Sun has proposed to buy BTC at a 10% markdown from the US government after it sold a piece of Bitcoin relinquished in the Ulbricht case.
Sun’s offer to purchase BTC at a discount may aid in maintaining market stability because the sale of such a large quantity of BTC could cause market instability.
Sun’s ongoing legal dispute makes it unclear whether the US government will accept his offer, and the sale of the remaining BTC could still have a significant impact on the market.

Tron founder Justin Sun offers to buy BTC at a 10% discount from the US government. Will this help to keep the market stable?

Justin Sun, the founder of Tron, has recently gone through a number of difficult times, including losing his diplomatic status and being sued by the SEC for fraud and market manipulation. However, following the sale of a portion of the Bitcoin that was forfeited in the Ulbricht case, he has now made an offer to the US government to purchase BTC at a discount of 10%.

On March 14, 2023, the US government sold 9,861.1707894 BTC, and approximately 41,490.72 BTC are anticipated to be liquidated in four additional batches this year. Sun stated in a tweet that he intended to minimize the market impact of selling these BTC. Sun’s offer to purchase them at a discount could help maintain market stability because the sale of such a large volume of BTC could affect the price.

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In spite of Sun’s ongoing legal dispute, it is still unclear whether the US government will grant his request. Since 51,351.89 bitcoins had been seized by the US government in the Ulbricht case, selling the remaining BTC would still have a significant impact on the market.

The sale of such a large amount of Bitcoin (BTC) could potentially cause market instability because the cryptocurrency market is always unpredictable and volatile. Sun’s offer to buy the BTC for a lower price could help lessen the impact of the sale, but only time will tell how the situation will develop.

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Tags: justin son, tron, US government