ביטקאָין

Terra LFG אַוטדאָוז מיקראָסטראַטעגי מיט 5K BTC קויפן נאָך ביטקאָין פּרייַז דיפּס אונטער $ 45K

04/06/2022
ביטקאָין עטהערעום נייַעס

Terra, the Blockchain outfit using Bitcoin (בטק) 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… again

The move comes after a multi-day lull in buying activity by the Blockchain protocol.

This week, co-founder Do Kwon nonetheless דערציילט Twitter followers that the scheme was “just getting started,” while a mainstream media interview set out plans for “perpetual” BTC buys.

Terra, Kwon explained, wants to build a “decentralized Forex reserve” with Bitcoin as its collateral. The stablecoin, TerraUSD (UST), will have both BTC and Terra’s native LUNA token as its backing.

בילד

Initially planned to include $3 billion in Bitcoin reserves, that number will expand to $10 billion, Kwon said last month, with additional BTC purchases thereafter depending on how much UST is minted.

The nonprofit organization attached to Terra, the Luna Foundation Guard (LFG), is the entity attached to the BTC wallet involved in collateralizing UST. The latest addition means that it remains the 29th largest BTC wallet.

LFG ביטקאָין בייַטל (סקרעענשאָט). מקור: BitInfoCharts

While Kwon told the media that such large buy-ins were “not a corporate treasury decision,” the LFG wallet balance is already on the way to competing with the largest such treasury, that of MicroStrategy. The latter also added to its BTC reserves this week, buying around 4,000 coins for a total of 129,218 BTC.

For comparison, should Terra complete the remainder of its $10 billion allocation at the current BTC/USD spot price of $45,270, it would be able to purchase approximately another 184,800 BTC.

Kwon, in turn, is already tipped to become the world’s biggest Bitcoin whale.

Spot price shrugs off a tired narrative

Bitcoin price action, meanwhile, has failed to continue reacting to largescale commitments either from Terra or MicroStrategy.

פֿאַרבונדענע: ביטקאָין לאַכאָדימ - FOMO ספּיקאַד רובֿ זינט 2017, אָבער בטק פּרייַז קען נאָך זיין 'דומד' - אַנאַליסט

After failing to crack the 200-day moving average near $48,000, BTC/USD dipped overnight to also threaten a loss of the newly-breached yearly opening price of $46,200, data from קאָינטעלעגראַף מאַרקעץ פּראָ און TradingView ווייזט.

Such a loss could mean the return of the טריידינג קייט in which it lingered throughout 2022 until last week’s breakout.

Nonetheless, reactions to Kwon remained positive.

“Luna StableKwon just added about 4000 BTC to stack. This will eventually have the effect of a halving,” popular Twitter account @CivEkonom argued.

בטק / וסד 1 שעה ליכט טשאַרט (ביצטאַמפּ). מקור: טראַדינגוויעוו

די מיינונגען און מיינונגען וואָס זענען אויסגעדריקט דאָ זענען בלויז די מחבר און טאָן ניט דאַווקע פאַרטראַכטן די קוקן פון Cointelegraph.com. יעדער ינוועסמאַנט און טריידינג מאַך ינוואַלווז ריזיקירן, איר זאָל דורכפירן דיין אייגענע פאָרשונג ווען איר מאַכן אַ באַשלוס.