The slump in the Terra USD (now TerraClassic USD, UST for short), which is algorithmically supposed to maintain parity with the US dollar, along with the associated Luna Coin, has also put a significant damper on the price of the key crypto currency Bitcoin. Because the Terra USD was secured with a Bitcoin reserve worth around one to two billion dollars, which was used at lightning speed to buy the Terra Dollar in order to stabilize its value. The sales caused Bitcoin to fall, but Terra was still unsuccessful.
Why Bitcoin Investors Don’t Have to Worry About the Terra Crash – IT-Business
