Do Kwon, Founder of Terra (LUNA) Hopes To Become Largest Bitcoin Holder


Crypto reporter, Colin Wu announced in a tweet regarding the future plans of Terra founder Do Kwon on bitcoin holding and building the UST’s Bitcoin reserve.

Do Kwon said that they will become the largest Bitcoin holder after Satoshi Nakamoto by continuously purchasing Bitcoin to build reserves for the UST stablecoin.

In a recent interview, Kwon revealed the plan to create a bitcoin reserve of $10 billion for its UST stablecoin, from the current $3 billion Bitcoin reserve.

Throwing light on demand for decentralized stablecoins and the LUNA supply the Founder stated that

“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.”