SNEAK PEEK

• Justin Sun proposed to buy 41K BTC from the US government at a discounted rate.
• Sun’s proposal aims to reduce the potential impact of selling activities on the market.
• Some are skeptical of Sun’s claims due to his SEC investigation and history of outlandish claims.

Justin Sun, the visionary founder of TRON, has made headlines once again with a daring proposal that could change the game for the entire cryptocurrency market. In a bold move that has caught many off guard, Sun has offered to buy all 41K BTC from the government at a discounted rate of around 10%.

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

In a follow-up in his latest tweet, he expressed his belief that the agreement would help to reduce the potential impact on the market. Further, Justin Sun’s proposal comes at a time when the crypto market is grappling with increasing concerns about the upward pressure on Bitcoin caused by selling activities.

As per the latest reports, the US government allegedly sold some of the Bitcoins seized in the Ulbricht case. The sale included over 9,000 Bitcoins and was completed for approximately $215 million, according to a document filed in court on March 31. However, the government is claimed to hold over 41,000 Bitcoins still to be sold in the future, which is where Justin Sun’s proposal came into the picture.

In light of Justin Sun’s offer, several cryptocurrency community members are wary of Sun’s claims as he is a target of an active SEC investigation. Moreover, reports indicate that Sun has a history of outlandish claims. 

In relation, reports further imply that Sun gained widespread fame after allegedly accepting Warren Buffet’s elegant dinner invitation worth $4.5 million in 2020, which instantly catapulted him to stardom.