A repeat transaction to Binance of 125 million USDT sees one trader follow suit into Bitcoin, with BTC/USD yet to react at the Wall Street open.
Bitcoin (BTC) could be set for a repeat of this week’s run to weekly highs after Blockchain protocol Terra appeared set to buy another $125 million of BTC.A wallet thought to belong to Terra but not officially confirmed to be under its control sent another 125 million Tether (USDT) to Binance on March 23.Rinse and repeat for 5.6% BTC price gains?The Bitcoin price narrative gained a new player this week after Terra co-founder Do Kwon let slip about a plan to back a new U.S. dollar stablecoin, TerraUSD (UST) with both BTC and Terra’s LUNA token.The buy-in required to do so amounts to $3 billion, he told commentator Udi Wertheimer last week, adding that the bulk of purchasing had yet to occur at the time.Analysis of the presumed wallet supports that thesis, with the first 125 million U
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