Cryptoverse: 10 billion reasons bitcoin could become a reserve currency
Published by
Reuters UK
Reuters UK
By Lisa Pauline Mattackal and Medha Singh (Reuters) – A crypto platform’s pledge to amass $10 billion worth of bitcoin to back its own “stablecoin” is firing up the market. It’s part of a wider movement to crown bitcoin as the reserve currency of a new age. Seoul-based Terraform Labs has so far built up nearly 40,000 bitcoin worth $1.7 billion in a series of purchases via a non-profit affiliate, Luna Foundation Guard, according to publicly available blockchain data. The spree follows Terraform co-founder Do Kwon’s announcement on Twitter last month https://twitter.com/stablekwon/status/1506278…