Terra En Route to Becoming the Biggest Bitcoin Whale as LUNA Sees Massive Growth ⋆ ZyCrypto - BitcoinEthereumNews.com
On-chain data suggests that Terra has purchased nearly $1.5 billion worth of BTC. Terra wants to adopt the bitcoin standard to make UST a hybrid stablecoin. Amid talk of the accumulations, Bitcoin is holding steady above $45k as it shakes off previous lows. Terra wants to cement its place as one of the largest BTC holders in the world. CEO Do Kwon stated that the organization has a budget of $10 billion to make the splurge. Terras New Affinity With Bitcoin Terra has purchased $1.4 billion worth of Bitcoin which makes it the 30th largest single holder of the cryptocurrency. The recent purchase gives the company a holding of 30,727 bitcoins with even larger purchases being lined up. “The Terra Protocol will be one of the largest holders of $BTC. Saylor beware,” tweeted Do Kwon, founder of Terra. Michael Saylor‘s MicroStrategy is one of the largest BTC whales with over 129,218 BTC in its cache following its latest purchase of 4167 BTC anounced today. MicroStrategy’s bitcoin stash is now valued at around $5.9 billion. Kwons reason for the purchase of a large cache of BTC was shared in a Twitter space hosted by Udi Wertheimer. In the space, Kwon stated that the decentralized stablecoin UST would transform into