Justin Sun, the founder of Tron (TRX) cryptocurrency, has recently announced his intentions to purchase the entire Bitcoin (BTC) held by the US government. The government has seized the BTC from the defunct Silk Road illicit marketplace back in 2012 and Sun is offering to but the held amount at a 10% discount. Sun believes that this purchase will be beneficial to the cryptocurrency market and the impact caused by the sale of the heavily held BTC.

The US government seized around 51,351 Bitcoin from the Silk Road. Recently, the government sold 9,861 BTC of the total amount seized worth more than $215 million. The government is said to not be selling the remaining 41,491 BTC until after April 14th, which is when the hacker James Zhong sentenced for pleading guilty to wire fraud.

The Silk Road was a darknet marketplace that operated from 2011-2013. It was associated with money laundering and drug running activities. Consequently, the US government was able to locate and seize the funds from the platform that were stolen by Zhong.

Overall, it would be beneficial if a purchase of this magnitude was made in order to minimize the potential impacts common to cryptocurrency markets. This would be possible if Sun's offer was accepted and the remaining BTC was bought at a 10% discount. It should be noted, however, that the US government is yet to make an announcement about Sun's offer.



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