On March 22, Bitcoin (BTC) showed signs of pushing higher levels as Wall Street trading showed gains over $ 43,000.
Hourly candlestick chart BTC / USD (bit stamp). Source: Trading View
Terra co-founder: ‘Most of’ $ 3 billion has not yet been bought
Followed data from Cointelegraph Markets Pro and TradingView BTC / USD as it extended its strong movement to three-week highs.
The pair has already risen thanks to the encouraging macroeconomic signals from China, but it is the news from within that sets the pace for the day.
In a conversation on Twitter Spaces with the infamous Bitcoin expert Udi Wertheimer, Do Kwon, co-founder of the Terra blockchain protocol, revealed that he plans to support the new TerraUSD (UST) stablecoin with BTC in addition to the Terra LUNA token.
“We have not tracked down the exact numbers because the transactions we usually do are OTC, but the current block we have to buy a larger coin is about $ 3 billion, and it will be added to that,” he told Wertheimer of BTC Terra. acquisition plans.
“But of those three billion, we have not bought most yet.”
These comments shook the market as rumors spread, as investigators discovered $ 125 million in Tether (USDT) that actually appears to be linked to Terra.
A purchase of 3 billion dollars will be equivalent to approximately 69,850 BTC at current prices. This will make Terra the largest holder of Bitcoin than any corporate investor, except for MicroStrategy with 125,051 BTC, Bitcoin Treas Bond data shows.
“I said too much,” Kwon admitted over the weekend after the conversation.
Meanwhile, Luke Martin, host of the WAGMI podcast, replied that Terra’s story was “a story worth watching.”
Sky-high Bitcoin price predictions Bypass social media
Therefore, on March 22, the mood among Bitcoin traders was upbeat, and it was difficult to predict general bullish optimism after months of relentless sideways price action.
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“If Bitcoin can maintain these levels, I think we are in a period of some bullishness in the markets,” Cointelegraph contributor Michael van de Poppe concluded.
Meanwhile, trader Anbessa gave a spot forecast for BTC / USD based on the next bullish or bearish reaction.
Earlier, Cointelegraph reported an increase of more than $ 43,300, leading to a significant amount of short liquidation.