Why Is Terra Buying Btc - Samuelpaganoto.com

Last Updated on December 27, 2022 by Paganoto

What is terraUSD (UST) and how does it affect bitcoin? – CNBC

Crypto project Terra is buying billions in bitcoin to support UST, a controversial stablecoin. Its creator Do Kwon believes bitcoin can become the “reserve currency” of the Terra ecosystem. That belief is being put to the test as UST falls below its $1 peg.May 9, 2022

Bitcoin investors are panicking as a controversial crypto …

To further complicate things, Terra’s creator, Do Kwon, bought $3.5 billion worth of bitcoin to provide a backstop for UST in times of crisis.

Terra Buys 5,000 Bitcoin As Its Reserves Reach $1.6 Billion

Wednesday’s purchase brings the value of Terraform Labs’ bitcoin holdings to $1.6 billion, part of the way towards its target of $10 billion.

Terra Adds $135 Million in Bitcoin Purchases to Back Stablecoin

More than $1 billion bought since late January, CEO confirms · Bitcoin is being used to build a reserve for UST stablecoin.

Terra CEO Says Bitcoin Can Weather Any Loss of Peg to …

Terra has bought about $1.4 billion in Bitcoin to fund reserve · UST stablecoin has a market value of more than $16 billion.

Terra Buys $135M in Bitcoin for UST Stablecoin Reserve

Do Kwon, co-founder and CEO of the company behind the Terra blockchain, confirmed it had bought over $1 billion in bitcoin since the end of …

Terra (LUNA) Backer Continues Bitcoin-Buying Spree …

LFG goes on to provide a breakdown of each transaction, saying that 1 billion tokens of Terra’s native dollar-pegged stablecoin TerraUSD (UST) …

Terra's founder plans to back its stablecoin with a 'basket' of …

Kwon told TechCrunch Terra has purchased $1.6 billion in bitcoin so far and plans to purchase an additional $1.4 billion with capital from Luna …

Terra (LUNA) Will Buy $10 Billion Worth Of Bitcoin. Here's Why

In a tweet, Kwon announced that the network was buying bitcoin for its reserves. These reserves back up its stablecoin UST which is used for …

Terra acquires $1.5 billion more Bitcoin – Forbes India

The Luna Foundation Guard (LFG), a Singapore-based NGO affiliated with the Terra Luna ecosystem, has raised an additional $1.5 billion worth of BTC to its …

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Pagaonoto is an SEO editor and cryptocurrency researcher for various publications.