Terra Approaches Tesla in Terms of Bitcoin Reserves

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Do Kwon, co-founder of the blockchain project Terra, announced his intention to create a reserve of Bitcoin to provide liquidity for the UST stablecoin. The company has spent $1.5 billion in three weeks and its address balance has grown to 42 400 BTC. This brings it close to Tesla, whose cryptocurrency assets are valued at 43 200 BTC. Initially, the company plans to spend $3 billion from its own fund, and in the long term to bring the reserve to the equivalent of $10 billion.