Tron founder Justin Sun has expressed interest in purchasing the German government’s Bitcoin holdings, valued at over $2.3 billion. The renowned crypto entrepreneur indicated his willingness to buy Bitcoin (BTC) off-market to mitigate any negative price impact from a large-scale sale.
Sun made his proposal public on July 4 through a post on X, sharing it with his 3.5 million followers. The Bitcoin wallet associated with the German government first drew attention on June 19 when it transferred 6,500 BTC, worth more than $425 million, sparking concerns about potential market impact.
Prior to this transfer, the wallet had held nearly 50,000 BTC since February 2024. These funds are believed to have been seized from Movie2k, a pirate movie website operator.
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According to the Arkham Intelligence platform, the wallet is labeled “German Government (BKA),” indicating it is managed by the Federal Criminal Police Office (BKA). In January, the BKA seized 50,000 BTC in Dresden from Movie2k, which is thought to be the source of these assets.
It remains uncertain which authority is executing the BTC sales. However, a BKA spokeswoman, Kristina Sawazki, clarified in an email to Cointelegraph that the criminal unit does not hold the seized Bitcoin.
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The German government’s wallet has been actively selling Bitcoin since mid-June. On July 4, it transferred $172 million worth of Bitcoin to several crypto wallets, including three major centralized cryptocurrency exchanges (CEXs).
Of this amount, $75 million worth of Bitcoin was moved to Coinbase, Kraken, and Bitstamp, indicating an intention to sell the BTC. Just two days prior, on July 2, the wallet transferred $52 million worth of BTC, with 100 BTC sent to Coinbase, 150 BTC to Bitstamp, and 32.74 BTC to Kraken.
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