Tron Founder Justin Sun Offers to Buy BTC at a 10% Discount from US Government to Keep Market Stable
In a move to minimize potential market instability caused by the US government’s sale of a large volume of Bitcoin forfeited in the Ulbricht case, Tron founder Justin Sun has offered to purchase the cryptocurrency at a 10% discount in an OTC deal.
The US government recently sold 9,861.1707894 BTC and intends to sell an additional 41,490.72 BTC in four more batches this year. Sun’s offer could help keep the market stable amid the sale, which has the potential to affect the price of Bitcoin.
However, it remains uncertain whether the US government will accept Sun’s offer amid his ongoing legal dispute. The government had seized 51,351.89 bitcoins in the Ulbricht case, so the sale of the remaining BTC could still significantly impact the market.
Sun has been through a series of legal and diplomatic setbacks recently, including being sued by the SEC for fraud and market manipulation and losing his diplomatic status. His offer to purchase the BTC at a discount could be a way to restore his reputation and credibility in the crypto community.
The cryptocurrency market is highly volatile and unpredictable, and the sale of such a large volume of BTC could potentially lead to market instability. Sun’s offer to purchase the BTC at a discount could be a way to help mitigate the impact of the sale, but only time will tell how the situation will play out.
The market will be closely watching the US government’s response to Sun’s offer and how the sale of the remaining BTC will affect Bitcoin’s price in the coming months.
