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Justin Sun is willing to buy all bitcoins from the German government

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05.07.2024

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As stated by San, he wants to minimize the impact of sales by the FRG authorities of bitcoins on the value of the first cryptocurrency. Recall that according to Arkham, San's publicly known personal wallets hold at least $1.4 billion worth of cryptocurrencies.

The crypto entrepreneur also has stakes in crypto companies, has several NFTs from well-known collections and shares of companies. Justin Sahn's decision could come in handy, given that bitcoin has fallen below $58,000, with a number of experts suggesting that the price of BTC could drop to $50,000.

But will Sana's initiative help curb the bearish trend? Even assuming the German government agrees to negotiate, it will take precious time. Undoubtedly, the founder of Tron realizes this.

In fact, statistics show that any large sales were successfully absorbed by the market, after which the price of BTC recovered. Even potential payments to Mt.Gox will not collapse the rate of the main cryptocurrency, so this loud statement by San is his usual PR move.