Amidst concerns that the German Government, which holds about 50000 seized BTC, plans to sell its Bitcoin holdings, Tron founder Justin Sun has offered to buy the government’s Bitcoin holdings worth over $2.3 billion.

Justin Sun announced this in an X post earlier today: "I am willing to negotiate with the German government to purchase all BTC off-market in order to minimise the impact on the market’.

The German government-labeled wallet first raised suspicions of Bitcoin selling on June 19, when it executed a 6,500 BTC transfer valued at over $425 million.

Selling the remaining holdings on the market could negatively impact Bitcoin’s price, which is why the wallet became a hot topic among traders.

The German government has continued to sell

Since mid-June, the German government-linked wallet has been consistently selling Bitcoin, a development that has not gone unnoticed in the cryptocurrency community.

On July 4, the wallet transferred $172 million worth of Bitcoin to various crypto wallets, including three popular centralised cryptocurrency exchanges (CEXs).

Of this amount, $75 million worth of Bitcoin was sent to Coinbase, Kraken, and Bitstamp, indicating that the wallet might be preparing to sell the BTC.

Two days earlier, on July 2, the German government-linked wallet transferred $52 million worth of BTC, with 100 BTC going to Coinbase, 150 BTC to Bitstamp, and 32.74 BTC to Kraken.

Why would Justin Sky want to buy the German government’s BTC Off-market?

As a founder in the crypto space, Justin Sun is directly affected by crypto performance. With Bitcoin being the biggest cryptocurrency, a serious negative price impact on Bitcoin will likely have a domino effect on many other cryptocurrencies; it’s clear to see the motivating factor behind Justin’s offer.

We will have to wait a few days to see if the German government will stop selling on the market and accept Justin Sun's offer.