Holpop News

Terraform Labs CEO Do Kwon acknowledged that a drop in the bitcoin price would negatively impact UST steiblocoin in the short term.
“I’m betting that in the long term, bitcoin will rise and bitcoin reserves will be strong enough to prevent UST demand from falling. That’s the more likely scenario,” he added.
Kwon’s main goal is to make Terra “the largest holder of BTC.”
He also added that Terra is a Tier 2 solution for the bitcoin network. Kwon noted that Terra has a bridge with bitcoin that allows it to be used “in a multitude of applications from DAO to NFT to DeFi.”
“And in terms of expressivity, transaction capabilities, throughput, all of that can happen on Terra,” he added.