Terraform Labs buys $139 million worth of bitcoins

31.03.2022 18:54
by Anđelija Anđelić
1 min read

Terraform Labs buys $139 million worth of bitcoins

Terraform Labs has acquired $139 million worth of BTC as part of its latest investment campaign. After the next operation, $1.45 billion worth of bitcoins are stored in Terraform’s wallets.

Currently, the Terraform Labs wallet holds more than 30,000 bitcoins, which were received in 49 transactions. The first transaction took place on January 21 – the company immediately bought 10,000 BTC.

Earlier, Terraform Labs CEO Do Kwon said that the Terra project will increase its BTC holdings to $10 billion. The company uses Bitcoin to back the UST algorithmic stablecoin.

Author

  • Anđelija Anđelić is an Italian language and lit major, and investigative journalist with a special interest in the crypto world and tech innovations. Exploring the ways our world is changing and bringing the freshest info is her passion.

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