Justin Sun has expressed his willingness to purchase Bitcoins via OTC from the German government to “minimize the impact on the market.”

The founder of TRON blockchain, Justin Sun, is showing his readiness to support the industry as more confiscated Bitcoins are being moved to centralized crypto exchanges. In a recent post on X, Sun stated he is “willing” to negotiate with the German government to acquire “all BTC off-market,” aiming to reduce market impact. However, he did not provide specific details or a timeline for the potential transaction.

I am willing to negotiate with the German government to purchase all BTC off-market in order to minimize the impact on the market. — H.E. Justin Sun 孙宇晨 (@justinsuntron) July 4, 2024

This development aligns with the ongoing transfers of confiscated Bitcoins by German government-labeled addresses to centralized exchanges, despite Bitcoin’s recent drop below $60,000. It remains unclear whether these assets were sold or retained in exchange wallets.

The German Federal Criminal Police Office (BKA) has transferred multiple Bitcoins to centralized exchanges like Kraken, Coinbase, and an untagged wallet. As of now, the BKA has not made any public statements regarding the transfer of BTC to the exchanges.

According to data, the German government still holds over 40,000 BTC valued at over $2 billion at current market prices. The BKA first seized nearly 50,000 BTC from the operators of the popular piracy movie website Movie2k.to back in 2013. The BKA received the Bitcoin in mid-January after a “voluntary transfer” from the suspects, according to the German police.

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