Tron Founder Offers 10% Discount To Buy 41,500 Bitcoins From US Government
Tron founder Justin Sun has offered to purchase the 41,500 bitcoin linked to the Silk Road that the US government is planning to sell in four different batches this year. Sun made the offer in a tweet after court documents revealing the government’s BTC sale plans were made public. Sun said he wants to minimize the potential impact of the sale of these BTC on the market and is willing to purchase them at a 10% discount, and it could be an OTC deal. The sale of such a large volume of BTC could definitely affect the price, and Sun’s offer is seen as an attempt to stabilize the market.
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 孙宇晨 (@justinsuntron) March 31, 2023
Bid to Buy Silk Road BTC
The US government had seized 51,351.89 bitcoins in the Ulbricht case, and the government sold 9,861 BTC via Coinbase on March 14, 2023. It is unclear whether the government would accept Sun’s offer amid his legal dispute with the SEC for fraud and market manipulation and his loss of diplomatic status.
The crypto community has reacted to Sun’s offer, with some praising his move to stabilize the market, while others question his motives. Sun has been going through his fair share of rough times lately, with the SEC suing him for fraud and market manipulation and losing his diplomatic status. Sun’s offer to buy the Silk Road BTC could be seen as a way to restore his image and show that he still has the power to influence the market positively.
Bold Move or Strategic PR?
The sale of the Silk Road BTC by the US government has been a topic of discussion in the crypto community for a while now, with many speculating on the potential impact on the market. Sun’s offer is seen as a bold move, and it remains to be seen whether the government will accept it. The sale of such a large volume of BTC could have a significant impact on the market, and it will be interesting to see how it plays out.
