Proposal to Purchase German Government's Bitcoin Holdings

by Giorgi Kostiuk

2 years ago

In a significant move on July 4, Justin Sun, the founder of Tron, offered to acquire the German government's substantial Bitcoin holdings valued at over $2.3 billion. Sun proposed to negotiate off-market to minimize market impact in a bid to prevent negative fluctuations in Bitcoin's value. The German government's Bitcoin stash originated from a seizure related to the pirate movie website Movie2k, with control over nearly 50,000 BTC since February 2024.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

US-Iran War Escalates with New Strikes

The US-Iran war has escalated with fresh strikes from both sides, dampening hopes for a peace deal. The US military shot down four Iranian drones and attacked a ground control station in Bandar Abbas, while Iran retaliated by striking an American airbase in Kuwait. This escalation has led to a significant decline in Bitcoin's price.

Leo van der Veenan hour ago

Charles Hoskinson Shifts Focus to Cardano Following Clinic Closure

Charles Hoskinson announced the closure of his family-backed medical clinic in Wyoming, emphasizing a shift in focus towards Cardano and other crypto projects.

Aisha Farooq2 hours ago

Orbital Partners with Banking Circle to Enhance Stablecoin Settlement in Europe

Orbital partners with Banking Circle to enhance stablecoin settlement and multicurrency payment capabilities across Europe.

Li Weicheng2 hours ago

Strive Asset Management Introduces Innovative Bitcoin-Backed Securities

Strive Asset Management has launched SATA preferred shares, the first listed US security to pay daily dividends, with a 13% annualized rate, aiming to reshape perceptions of money and credit.

Tenzin Dorje4 hours ago

Samsung Affiliates Invest in Leading Crypto Exchange Dunamu

Three Samsung affiliates announced a combined acquisition of a 4% stake in Dunamu, operator of South Korea's leading crypto exchange, Upbit, for approximately 408 million USD.