Tron’s Justin Sun Offers To Buy 41,500 BTC At 10% Discount From US Government

Key Points:

• Tron founder Justin Sun has offered to purchase BTC at a 10% discount from the US government after it sold a portion of Bitcoin forfeited in the Ulbricht case.
• The sale of such a large volume of BTC could potentially lead to market instability, so Sun’s offer to buy at a discount could help to keep the market stable.
• It remains uncertain whether the US government will accept Sun’s offer amid his ongoing legal dispute, and the sale of the remaining BTC could still significantly impact the market.

Tron founder Justin Sun offers to buy BTC at a 10% discount from the US government. Will this help to keep the market stable?

Tron founder Justin Sun has been through a string of rough times lately, including being sued by the SEC for fraud and market manipulation and losing his diplomatic status. However, he has now made an offer to the US government to buy BTC at a 10% discount after it sold a portion of Bitcoin forfeited in the Ulbricht case.

The US government sold 9,861.1707894 BTC on March 14, 2023, and about 41,490.72 BTC is expected to be liquidated in four more batches this year. Sun’s tweet stated his intention to minimize the potential impact of the sale of these BTC on the market. The sale of such a large BTC volume could affect the price, so Sun’s offer to purchase them at a discount could help keep the market stable.

However, it is still uncertain whether the US government will accept Sun’s request amid his ongoing legal dispute. The US government had seized 51,351.89 bitcoins in the Ulbricht case, so the sale of the remaining BTC would still significantly impact the market.

The cryptocurrency market is always 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.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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