Tron (TRX) Founder Justin Sun Wants To Buy More BTC Held By The US Government

Tron founder Justin Sun said that he wants to buy more than $1.1 billion in Bitcoin that the US government plans to sell, and this could happen this month. Check out the latest reports about this issue below.

Sun recently said that he is offering to buy the government-seized Bitcoin at a 10% discount to offset the impacts such a large sale could have on the crypto market.

“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 [over the counter] deal.”

It’s also worth noting the fact that Sun is reacting to the news that the government said it is planning to sell the remainder of the roughly 51,351 Bitcoin seized from hacker James Zhong, who authorities accused of stealing the virtual assets from the now defunct Silk Road illicit marketplace in 2012.

It’s also been revealed by the online publication the Daily Hodl that on March 14th, the government sold about 9,861 BTC of the total amount seized for more than $215 million, leaving about 41,491 BTC.

Check out the original article in order to learn more details about this.

Myers says Bitcoin is emerging as a hard and scarce store of value in a world of ever-increasing debt and currency devaluation.

“We have now entered an era where the value proposition of holding bonds or holding fiat money is very bad, because the national debt and the unfunded liabilities going forward are going to necessitate a level of printing that will outpace the nominal yield on holding bonds.”

He also continued and said the following:

“That’s the only way out we have. We now have $31 trillion of national debt, $170 trillion of unfunded liabilities in the US alone.”