On Thursday, the German government transferred 1,300 BTC to various crypto exchanges, according to data from Arkham.
Justin Sun is preparing to buy Bitcoin from Germany through over-the-counter (OTC) transactions. His strategy includes negotiating directly with the German government to facilitate the purchase.
Justin Sun Plans to Acquire Germany’s Bitcoin Holdings via OTC Transactions
Justin Sun, the founder of Tron, has announced his readiness to purchase Germany’s Bitcoin holdings through over-the-counter (OTC) transactions. This move is designed to prevent significant disruptions in the market.
In a recent post on X (formerly Twitter), Sun stated, “I am ready to negotiate with the German government to purchase all BTC off-market in order to minimize the impact on the market.” His plan aims to enable a large-scale acquisition while avoiding the typical market ripple effects associated with substantial trades.
Source: X
German Government Moves 1,300 BTC to Exchanges, Speculation Rises
Justin Sun’s statement about acquiring Germany’s Bitcoin holdings through OTC transactions follows the recent transfer of 1,300 Bitcoin by the German government. According to Arkham Intelligence, this transfer, valued at approximately $75.5 million, was made to three major crypto exchanges: Bitstamp, Coinbase, and Kraken.
The transfer, which is the largest recent move to centralized exchanges, raises questions about the government’s intentions. With the government holding around $2.3 billion worth of Bitcoin, the purpose of this transaction remains unclear, sparking speculation about possible asset liquidation or reallocation strategies.
This wallet first drew attention last month when it executed a transfer of 6,500 BTC worth over $425 million. Prior to this, it held nearly 50,000 BTC, which are believed to have been seized from the operator of the pirate movie website Movie2k.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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