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Terra plans to back $UST with $10bn in Bitcoin!

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Hi HODLers,

Another day, another crazy news. This one does not need much introduction.

$UST the biggest decentralized coin ou there just threw out a bomb in the crypto space!

Terra Do Kwon has outlined plans to accumulate a whopping $10 billion worth of Bitcoin (BTC) to add to the project’s stablecoin reserves.

When contacted by press agencies, the founder simply responded:

“I don’t understand the distinction, We’re already buying Bitcoin.”

There has been some debates about the long term backing behind Terra stablecoin $UST.

Terraform Labs (TFL) just donated 12 million LUNA to the Luna Foundation Guard LFG on Friday (worth around $1 billion at current prices).

Kwon said this could be repeated and that “growing reserves until it becomes mathematically impossible for idiots to claim de-peg risk for UST.”

I like the idea of a Stablecoin partly backed by Bitcoin reserve!

Stay safe out there,

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