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Will Justin Sun save the market?
92 sats \ 9 comments \ @NRS 4 Jul 2024 bitcoin
The German government continues to sell Bitcoin, having sold 10,000 BTC in a month. Tron founder Justin Sun offered to buy all of Germany's Bitcoin to ease selling pressure on markets. They currently hold 40,000 BTC, approximately $2.3 billion.
Will Tron's founder save the market?
https://m.stacker.news/38275
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27 sats \ 0 replies \ @hyperfree 4 Jul 2024
Justin is the marketing king, that's for sure :D
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17 sats \ 0 replies \ @grayruby 4 Jul 2024
No. He is a charlatan. The market will eat up all the coins they sell. Price will go down to absorb them but probably rebound shortly after as another piece of FUD is conquered.
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41 sats \ 5 replies \ @oliverweiss 4 Jul 2024
Where does the German Bitcoin holding come from? Is this officially known information? Any reference?
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10 sats \ 0 replies \ @hyperfree 4 Jul 2024
It's all official. Gov stole it.
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0 sats \ 2 replies \ @grayruby 4 Jul 2024
“Before the first transfer, the wallet has held nearly 50,000 BTC since February 2024. The funds are believed to have been seized from the pirate movie website operator Movie2k.”
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20 sats \ 1 reply \ @oliverweiss 4 Jul 2024
Thanks! Wow, a pirate movie website accumulated 50k Bitcoins, what a business?! 🤣 Anyways, I am a bit suspicious about this story?
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0 sats \ 0 replies \ @grayruby 4 Jul 2024
It probably acquired them many years ago when the price was much lower.
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0 sats \ 0 replies \ @NRS OP 4 Jul 2024
https://m.stacker.news/38276
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0 sats \ 0 replies \ @Tutankhamun 4 Jul 2024
It's uncertain if Tron's founder can stabilize the market by buying Germany's Bitcoin, but such a large purchase could certainly ease some selling pressure and potentially impact market dynamics.
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