Tron founder Justin Sun has made a proposal to the U.S. government to buy the seized 41,491 Bitcoins at a 10% discount to prevent market impact. The U.S. government has begun liquidating the Bitcoins seized in connection with the Ulbricht case, and Sun believes that his buyout deal would minimize the potential impact on the market.
Sun’s offer comes at a time when the market is already facing selling pressure, and any additional selling of such a large amount of Bitcoins could further impact the price. Sun is willing to execute the deal over an OTC transaction to prevent any adverse effects on the price of Bitcoin.
While Sun’s proposal may seem like a win-win for both parties, some in the crypto community are skeptical about his assertions. Sun is currently the subject of an ongoing SEC investigation, and his credibility has been called into question in the past.
US government has announced its intention to sell an additional 41,500 #BTC this year. To minimize the potential impact on the market, I would like to offer to purchase these BTC at a 10% discount for an OTC deal.
— H.E. Justin Sun å™å®‡æ™¨ (@justinsuntron) March 31, 2023
Despite the skepticism, Sun’s proposal highlights the growing importance of cryptocurrencies in mainstream finance. The fact that the U.S. government is selling seized Bitcoins, and Sun is willing to buy them, shows that cryptocurrencies are becoming more accepted as a legitimate asset class.
In conclusion, Justin Sun’s proposal to buy the seized 41,491 Bitcoins at a discount highlights the growing importance of cryptocurrencies in mainstream finance. While his proposal may seem like a win-win for both parties, some in the crypto community are skeptical about his assertions due to ongoing SEC investigations and his past history. It’s important for investors to exercise caution and understand the risks involved before investing in cryptocurrencies.
