Terra Has A Huge Potential to Become The Second-Largest Bitcoin Holder, according to Do Kwon

Terra Co-Founder Do Kwon Reveals his Goal to Become The Second Largest Bitcoin Holder in The World

Terra Labs Co-Founder Do Kwon claimed that Terra will come the world’s largest Bitcoin holder in the future. Do Kwon wants to become the largest Bitcoin holder after Satoshi Nakamoto by continuously purchasing Bitcoin for building reserves for the UST stablecoin.

The LUNA Foundation Guard will buy bitcoins to add to UST’s $10 billion Bitcoin reserve.

The renowned DeFi project’s leader revealed in a recent interview that Terra’s plan is to develop a $10 billion bitcoin reserve for its UST stablecoin, up from the present $3 billion Bitcoin reserve. He also spoke on the major advantages of Terra’s design, the need of developing a community of builders and developers, and the lack of legislative certainty surrounding cryptocurrency in the United States, despite its success in South Korea and elsewhere.

“I’m witnessing firsthand the product-market fit and the massive growth and demand for decentralized stablecoins and as UST grows and gets adopted by more users LUNA fundamentally has to become more scarce,” Do Kwon said.

The Luna Foundation has added 2,943 BTC to its UST reserve, valued at almost $139 million. The purchase is shown on the Luna Foundation Guard’s (LFG) bitcoin address, which now gains a total of over 30,000 BTC.

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