Terra Is Now The Third-Largest Disclosed Bitcoin Holder In the World!

Terra is in Top 5 largest Bitcoin holders

According to Bitcointreasuries.net data, Terra is now the third-largest disclosed Bitcoin holder, meanwhile, the leading names on the Bitcoin holder list are MicroStrategy and Tesla, respectively.

Two days ago, MacroStrategy, a subsidiary of MicroStrategy Incorporated, closed a $205M loan with Silvergate Bank to purchase Bitcoin. The interest-only term loan is secured by a certain Bitcoin held in MacroStrategy’s collateral account with a custodian mutually authorized by Silvergate and MacroStrategy. Under the terms of the agreement, MacroStrategy will use the loan proceeds to purchase Bitcoins, to pay fees, interest, and expenses related to the loan transaction, or for MacroStrategy’s or MicroStrategy’s general corporate purposes.

Besides, yesterday 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 has a total BTC of over 30,000.

Terra’s Co-Founder Do Kwon revealed in a recent interview that he expects Terra to become the second-largest bitcoin holder. That’s a huge order, and Terraform Labs will have to acquire a lot more bitcoin to meet it. Recent acquisitions, however, tend to indicate that they are committed to doing so.

“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.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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