Published: 31.03.2022
Article reading time:
1 minute.
Terraform Labs acquired $139 million worth of BTC as part of its latest bitcoin purchase and now holds $1.45 billion worth of bitcoins in its wallets.
A wallet linked to Terraform Labs received 2,943 BTC on Wednesday, according to Blockchain.com. It is worth noting that the company has not officially confirmed that this address belongs to it.
At the moment, the wallet holds more than 30,000 bitcoins, which were received in 49 transactions. The first transaction took place on January 21 – the company immediately bought 10,000 BTC.
Earlier, Terraform Labs CEO Do Kwon said that the Terra project will increase its holdings of BTC to $10 billion. They will act as collateral for the algorithmic stablecoin UST, which has become very popular in recent months.
“We’ve only just begun”, – wrote Do Kwon on Twitter.
Earlier, Bloomberg Intelligence analysts noted that algorithmic stablecoins are better protected from regulation.
Source: Bits
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