Terra UST collapse exposes a critical flaw in Bitcoin; Could Peter Schiff be right?

Bitcoin critic Peter Schiff explains that LUNA cannot sell enough Bitcoin to hold UST at $1 since Bitcoin cannot ensure enough liquidity for it
Terra (LUNA) lost its peg to the UST and has since fallen by over 49 percent in the past 24 hours to trade at $0.4832.

Peter Schiff, the CEO of Euro Pacific Capital has suggested that the thunderous fall in the price of UST is an indication of major flow in Bitcoin and crypto in general. In his tweet, the prominent BTC critic said, “LUNA cannot sell enough Bitcoin to hold UST at $1 since Bitcoin cannot ensure enough liquidity for it”. His view is that a stablecoin backed by Bitcoin is “backed by nothing.”
Schiff specifically pointed out the plunge of Terra (LUNA) and UST pegged to the U.S. dollar as both coins have recently nosedived amid a massive selloff. Terra (LUNA) lost its peg to the USD and has since fallen by over 49 percent in the past 24 hours to trade at $0.4832. 

#Luna is practically worthless. Over $50 billion in paper

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