Topic: Terra cofounder Do Kwon is the one who is pumping Bitcoin - page 8. (Read 2455 times)

No, the meaning basically is if there is a guy who is buying bitcoin constantly, then it means we should be seeing him buying constantly, if he doesn't then he is not the reason. Bitcoin doesn't go up just once, it is not like some low cap gem where one whale could change the price.

Of course, there will be some big purchases, Elon did and it did impacted the price but that was it, that was then and it was over. I do not know who this guy is, but he can't make it go down or go up for too long, he can do that for maybe one day, but whatever happens after that is how people react to it and what people think bitcoin will do. So, even if he did something, this doesn't continue to this day.

While I am trying to be thankful of How this Terra Founder invests Billions of dollars inside Bitcoin yet i am still waiting for the other billions to be put on so we can see another pump and not just what they did recently as the increase in Bitcoin market stays the same and even getting lower day by day again.
But yeah thanks for the team as they  trust Bitcoin than other currency in which they can collaborate for their own projects progress and development .

True, but we can't discount the fact that when they released this in public, the price seems to pump, from lower $30,000 to almost $50,000 right now. I will not call this a bull run though, we haven't break the big psychological barrier of $50,000. Maybe if it will be broken and then the run continues, perhaps the bulls is back. But be very cautious as well as there could be some entities riding this and trying to manipulate it from behind.

Luna Foundation Guard (LFG)  is no doubt buying bitcoin continuously but this does not mean that they are the only ones pumping the price. Their buying orders are giving a big support in the market and retailers & other investors are also buying bitcoin. Bitcoin needs to cross the psychological resistance of 50,000$ and then we may see a big strong bullish momentum towards the all time high. Do Kwon decision of buying bitcoin in order to back up the UST has suddenly shifted the market back on the bull phase and we avoided the bear market for the time being.

$125 million is not small either because I do not think the bear is going to take any short position right now. That means there will be very small selling pressure right now on the market. They have still $1.5 Billion dollars left t buy BTC from the market which means their gradual price increase will continue for quite some times.

Things got more interest after MicroStrategy also announce his $191 Million worth of bitcoin purchases.

Exactly and that action made just to hype up his followers, guess what happen now some people really believe his statement release then think about he will do more to support bitcoin to pump it more and that is totally crazy thought's since no people in right mind will continue to buy and don't care if they lose due to its volatility. Maybe he just do it so that his position will be hit and I guess he is happy now counting the profits he made for those hyping techniques he made.

What do you mean stupid?  Lmao.  Would anybody really keep buying BTC up knowing that the owner of the exchange and his MM's are spoofing sell walls to spook the whole market out?  Just look at the market rn.  A few bad news here and there and a little spoofing, where is the Do Kwon guy?  Don't make the mistake in thinking that he'll keep buying BTC if sh*t hits the fan.  I mean who would want to hold a losing position as a 'reserve'?  That's just dumb.

is this really the effect of their Act? but it seems to be stagnant the value again? i thought they will be entering 10 billion dollars but it looks like there are no follow up from the first investments?  but let it be after a week of this action yet there are no continues effect in the bitcoin price though this shows the support at 45k .
How long will this to make it in the market mate?  hope at least this 2nd quarter?

Year on year huge companies keeps topping up their treasuries with bitcoin. MicroStrategy leads the race and Tesla stands next to it. When it comes to Terra, it had planned for a short term goal of $3 billion investment and long term goal of $10. So, we can expect the addition of bitcoin to reach the $3 billion goal within this year. In terms of Bitcoin MicroStrategy holds 125051BTC, Tesla holds 43200BTC and Terra holds 30727BTC. These are according to the disclosed data, and we don't know how many Whales and other huge companies holding higher than this.

@TheGreatPython. Tesla invested $1.5 billion in bitcoin, Microstrategy invested $3.8 billion in bitcoin and Terra will invest a total of $10 billion in bitcoin. According to some articles, Terra will finish this within 3 months. This might be the biggest investment by a private company in bitcoin. However, Saylor has also been increasing his investment. He has been borrowing dollars against his bitcoin to by more bitcoin.

We don't know maybe they only say this to create a hype to pump bitcoin and their own projects. For now, there is no date if when will they start their plan but we can see that btc price is ready to break 50k. It's not them that pumps btc but there are other factors on why btc is showing a performance like this.

They can invest bigger than Michael and Elon? I don't know if how much Elon Musk invested in btc before but musk is the second richest man in the world right? he has a lot of money to invest in btc. While Michael Saylor on the other hand was a long time investor in btc, I don't know if how much is the exact amount he have now but I think that is also huge. The most important thing is the two already proved it but the terra cofounders haven't yet.

This news is currently being discussed, especially on twitter. I'm sure they will be very serious about continuing to buy Bitcoin until their target is achieved. all of our hopes for bitcoin to break through the $50k price will surely come true soon.

That's stupid, would you listen if you were Kwon? Hey man, I want to buy some coin cheaper so stop buying for a bit and if the price rises due to my buys or someone else comes in with a big buy, tough luck for you, you will have to spend more to buy these bitcoins - you can afford it!. This is business, there's no love between people who both want the same thing. Either one of them loses some money or the other.

It's weekend, I don't expect big players to come on Saturday or Sunday to buy. Also, there was a decent drop on Wall Street indexes on Friday that scared some investors.

I'd rather expect Kwon to back away for a bit because there's so little coins on exchanges that his buys are pushing the price up too fast. If he keeps buying too fast he's going to end up buying too expensive.

Maybe the speculation is pumping bitcoin but the amount of money they invested is not big enough to dictate the market movement.

Bitcoin has $27 billion volume per day (https://coinmarketcap.com/currencies/bitcoin/),

So that $125 million a day is not huge enough to cause a pump.

I think that's more than the fact the coins are locked in this wallet instead of that (decreasing the chance to be used as fractional reserve, for example). It's also that the companies acquiring Bitcoin tend to create a domino effect, getting other companies do the same (for reasons ranging from more trust to making sure they don't fall behind the competition).


I think that you have overthought this a little. If one business has a reserve of US Dollars is it endorsed by USA, or even legit? No. Same goes with bitcoin. I know that some may not understand this; but those are also prone to send their money to any "Elon Musk" on twitter promising to double them. I surely hope that in 2022 the average crypto investor is smarter than 2017 FOMO-driven

Better than similar projects? That's something only time can tell. Bitcoin can rise and fall, hence it can be debatable if it's a good reserve for another cryptocurrency, especially as the other crypto nominal value is not pegged to Bitcoin. But the huge reserve and advertising seems to work, even Bitstamp is listing UST.

While I agree about the fact that owners' extravagance / throwing out money can easily mean "be wary", I find a stable coin's main use to transfer value between different platforms. The huge reserve looks to me more reassuring than USDT's not-100%-what-it-consist-in reserve and it's still the most successful stable coin. Can UST get some of USDT market? Maybe. I kinda hope so. And in 5 years we will see if UST is successful or at least still relevant. Then also holding UST (for whatever reasons) can probably be seen safer than holding USDT.

While they seems to be the reason of the recent pump yet what we have now? completely we are still not in the good position for believing this is really a Pump , we need to see at least 50,000 price for bitcoin then we can assume that there is really a Pump going , but until we are being denied to take that 50k and still going 45-48k ? nope I will not trust this idea.

Do Kwon might not pump bitcoin today. According to this tweet he will only be listening to music hehe.

https://mobile.twitter.com/stablekwon/status/1510425541404692485?s=12

However, he also tweeted this yesterday. He might be waiting for the price to dump first before he begins buying. I speculate bitcoin to be more than $50k by the end of this week.

https://mobile.twitter.com/stablekwon/status/1510192448450211843?s=12

Also, Saylor always buys on the top of the pump hehehe. Someone shared a chart with Saylor's tweets and after every declaration of a buy, bitcoin dumped. He should certainly fire his trader.

Very strange that for the past 2 days he hasn’t bought anything. Checking that ETH wallet and it still contains $450M or so.

Lately with him and Saylor buying more Bitcoin with his $200M that he borrowed using Bitcoin as collateral, seems lots of buys happening last and this week.

I think we will hit $50K this week and hope that the rally isn’t short lived when he is out of funds to buy.

I wrote in a previous post that I think it's positive that the price is around $47k, but at that moment it went down, but the loss of 5% only shows that we are not ready for some serious bull run. If history is to be believed, April has not been a successful month for Bitcoin - although it is not something to rely on, it is possible that we will now spend some time between $40k and $50k.

---

There is no doubt about that, the part of BTC that would otherwise be on the market is now locked in some custodial cold wallets, and only 900 new BTCs per day are not a quantity that can affect liquidity. I am personally satisfied with how BTC is behaving in view of the war, inflation and all the pessimistic news that bury us every day.


I understand your point of view, but I still don't like that Bitcoin in this case is some kind of reserve asset for some token or stablecoin, as if it gives it some legitimacy and significance that it is better than other similar projects. Given how much the average investor understands this whole story, some are likely to conclude that Bitcoin as Bitcoin provides some sort of guarantee that it is something worth investing in. Besides, I don’t trust characters who are tossing around with tens of millions of dollars just to be in the media.

I was also shocked after seeing he brought 12000 BTC from the market. This releases the selling pressure from the market but not sure price will sustain for longer or not. But I think this is 4th time we are breaking the 50k mark and is that the indication of breaking the 4 year historically proven cycle? I am Missing Mycale Taylor at this party hope he will join soon.