Terra smash-buys $139M Bitcoin, wallet reaches 31,000 BTC
The Bitcoin wallet belonging to Terra amassed a further $139 million in Bitcoin, bringing its total coffers up to 31,000 BTC or $1.47 billion. Watch out Michael Saylor! Do Kwon, CEO of Terraform Labs, is hot on the heels of MicroStrategy’s CEO. The Terra wallet has now amassed almost $1.5 billion in Bitcoin (BTC) following another huge BTC purchase. The wallet address thought to belong to Terra (while not officially confirmed) received another 2,943.00002511 BTC ($139 million) on Wednesday. Wallet alert accounts on Twitter have been tracking the wallet.The wallet began amassing colossal....
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Price action is struggling, giving Terra and Do Kwon the perfect opportunity to "buy the dip." Terra, the Blockchain outfit using Bitcoin (BTC) to back its new US dollar stablecoin, has bought over 5,000 BTC.Wallet data confirms that on April 6, Terra added another 5,040 BTC to its balance, which now totals 35,768 BTC.Terra buys the dip... againThe move comes after a multi-day lull in buying activity by the Blockchain protocol.This week, co-founder Do Kwon nonetheless told Twitter followers that the scheme was "just getting started," while a mainstream media interview set out plans for....
Terra co-founder Do Kwon reveals that the firm will be buying Bitcoin "in perpetuity" to back new mints of its UST stablecoin. Bitcoin (BTC) is the collateral asset of choice for the world's biggest decentralized stablecoin, and one of its top executives says there was no other.Speaking to Bloomberg on April 4, Do Kwon, co-founder of Blockchain protocol Terra, pledged to continue buying BTC to back the firm's stablecoin, TerraUSD (UST).Kwon: BTC buys will continue "in perpetuity"Terra has made waves inside and outside the crypto community in recent weeks thanks to its massive Bitcoin....
Terra would provide over $139 million in UST and LUNA to several leading DeFi projects on Ethereum, Solana, and Polygon for at least the next six months. Decentralized stablecoin issuer Terra issued an ambitious proposal to expand the interchain deployment of its UST stablecoin across five projects on Ethereum, Polygon, and Solana.Terra’s Jan. 6 Research post UST Goes Interchain: Degen Strats Part Three provides details about how $139 million of UST and its native stablecoin LUNA would be utilized and on what platforms if the proposal is passed. Terra is a blockchain that supplies....
A third tranche of USDT leaves a wallet thought to hold funds earmarked to purchase at least $3 billion of Bitcoin. Bitcoin (BTC) returned to $43,000 on March 24 as new purchases by Blockchain protocol Terra fuelled optimism.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewThe BTC buys keep comingData from Cointelegraph Markets Pro and TradingView showed BTC/USD attempting to crack and secure its highest levels in weeks Thursday.The pair had consolidated day before, the sideways action on lower timeframes giving way to a "grind" upwards, which took Bitcoin to $43,492 — a price....