Market Disruption and Sun’s Proposal
Germany’s recent Bitcoin sales have caused a drop in prices. To minimize the impact, Justin Sun, founder of TRON, has offered to buy all of Germany’s Bitcoin off-market.
Germany’s Bitcoin Holdings
According to Arkham, Germany still holds around $2.3 billion worth of Bitcoin, seized from a drug trafficker.
Justin Sun’s Net Worth and Funding
Sun’s estimated net worth is $1.4 billion, with $1.43 billion in crypto holdings. However, the source of funding for the proposed purchase is unknown.
Sun’s Crypto Background
Sun founded TRON in 2017 and has acquired HTX through About Capital Management.
Questions and Future Developments
While Sun’s offer could potentially stabilize the market, questions remain about the funding source. Further details are needed to assess the feasibility of the proposal.
Bitcoin Price Update
At the time of writing, Bitcoin is trading at $56,845, down 5% from the previous day.
