10 Billion Is Going To Come Into Bitcoin via Terra Luna
Terra has been in the crypto spotlight for several weeks now, thanks in part to developments surrounding the Luna Foundation Guard (LFG) and Terraforms Labs CEO Do Kwon. The Korean entrepreneur this week outlined plans to increase LFG's Bitcoin reserves to $3 billion, with a long-term view to building a $10 billion fund.
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A Bitcoin buying spree by the Terra network can help keep the UST stablecoin at its $1 peg, and the LUNA crypto stands to benefit.. he argues that the $10 billion purchase will usher in "a.
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Genesis's Lim noted that the buying is contributing "a lot" to the lack of selling pressure because traders don't want to sell against Terra's buying spree. The broader crypto market has risen alongside bitcoin, with Ethereum trading up 19% over the last week and Luna itself up 11.6%.
Terra's 10 billion bitcoin buying spree may be 'catalyst' for
Terra's bitcoin holdings are over $1.7 billion after another purchase of $100 million worth of BTC. Terra seems nowhere near concerned regarding the ongoing crypto dip. Instead, it topped up its bitcoin reserves with an additional purchase of $100 million worth of the asset. Earlier this year, Do Kwon - Founder and CEO of Terraform Labs.
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On today's show, CNBC's Tanaya Macheel speaks to Delphi Digital's Yan Liberman about Terra's bitcoin buying goals and what it means for investors in bitcoin, LUNA and UST. 09:45 Mon, Apr 4 2022 3:.
Tether's Bitcoin Buying Spree Risky Business Or Genius Strategy?
Terra (LUNA) founder, Do Kwon, recently announced approval for the first $3 billion of $10 billion purchase of BTC as a reserve assets for Terra's UST stablecoin. The first $125 million of this.
Terra's 10 Billion Bitcoin Spending Spree Elevates LUNA to its All
Terra's Bitcoin buying spree raises concerns, spelling trouble for LUNA price. The on-chain activity and trade volume for the altcoin plummeted from three billion to 2.24 billion, a 25% fall.
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"The LFG has acquired an additional 37,863 Bitcoin totaling ~$1.5 billion in OTC swaps with Genesis Trading and 3AC." LFG goes on to provide a breakdown of each transaction, saying that 1 billion tokens of Terra's native dollar-pegged stablecoin TerraUSD (UST) acquired $1 billion worth of BTC through Genesis, plus $500 million worth of Bitcoin using 3AC.
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Terra's commitment to filling up its coffers with Bitcoin has been solidified once more with another $1.5 billion purchase. This is the fruit of a pledge that the project had made to buy more than $10 billion worth of BTC to serve as a reserve for its stablecoin, UST.
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On today's show, CNBC's Tanaya Macheel speaks to Delphi Digital's Yan Liberman about Terra's bitcoin buying goals and what it means for investors in bitcoin, LUNA and UST. 00:00 - CNBC.
Whereabouts of Terra’s bitcoin reserve a mystery The Star
The acquisition is part of Terra's ambitions to purchase a total of US$10 billion worth of Bitcoin, and transition from an algorithmic stablecoin to a Bitcoin-backed stablecoin. According to.
Terra Purchases 1.5 Billion Worth of BTC to SecondLargest
Terra plans to buy and hold $10 billion worth of bitcoin to back. - CNBC
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Kwon's US$10 million bet with crypto influencer. And finally, in other Terra-founder-related news, Kwon also recently entered a US$10 million bet with a crypto personality known as GCR, or " Gigantic Rebirth", to the tune of $10 million over the future price of Terra (LUNA). The bet is based on whether the price of LUNA will be higher or lower a year out from the time of the agreed wager.
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The Luna Foundation Guard (LFG), a non-profit organization behind Terra, purchased another 4,130 Bitcoin for roughly $176 million, placing LFG's Bitcoin reserves at over 42,000 BTC. The Foundation plans to amass $10 billion worth of Bitcoin and become the most significant crypto asset holder, second only to Satoshi Nakamoto.
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Join us on social networks. The founder of Terraform Labs (TFL) and Ethereum competitor Terra Do Kwon has outlined plans to accumulate a whopping $10 billion worth of Bitcoin ( BTC) to add to the.
Bitcoin Reserves Of Terra Reaches 1B Post Buying During Dips The
Bitcoin, the largest crypto by market capital, is, as of this writing, changing hands marginally above $47,000 - having jumped as high as $47,290 overnight. This charge to heights last visited in January follows news of Terra ecosystem planning a $10 billion Bitcoin purchase for its reserve. Last week, Terra Labs chief Do Kwon said […]
