Bitcoin (BTC<\/a>) showed signs of wanting higher levels still on March 22 as Wall Street trading saw a return above $43,000.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a>\u00a0followed BTC\/USD as it continued its newly confident stride to three-week highs.<\/p>\n The pair had already gained thanks to encouraging macro signs<\/a> from China, but it was news from within that really set the pace on the day.<\/p>\n In a Twitter Spaces conversation with infamous Bitcoin pundit Udi Wertheimer, Do Kwon, co-founder of Blockchain protocol Terra, revealed<\/a> that he planned to back his new TerraUSD (UST) stablecoin with BTC in addition to Terra’s LUNA<\/a> token.<\/p>\n “Haven’t been following up with the exact numbers ’cause transactions we generally do this over OTC, but the current clip that we have to buy big coin is about $3 billion and will will add to that,” he told Wertheimer about Terra’s BTC acquisition plans. <\/p>\n “But out of that 3 billion, most of it we haven’t bought yet.”<\/p><\/blockquote>\n Those comments set the market alight as word spread, as sleuths eyed<\/a> $125 million\u00a0in Tether (USDT<\/a>), seemingly tied to Terra already on the move.<\/p>\n A $3 billion purchase would equate to around 69,850 BTC at current prices. That would make Terra a larger Bitcoin holder than every corporate investor except MicroStrategy, with its 125,051 BTC stash, data from monitoring resource Bitcoin Treasuries reveals<\/a>.<\/p>\n “I said more than I shoulda,” Kwon conceded<\/a> at the weekend after the conversation.<\/p>\n Reacting, meanwhile, Luke Martin, host of the WAGMI podcast, argued that the Terra’s was a “narrative worth paying attention to.”<\/p>\n A $BTC<\/a> narrative worth paying attention to:<\/p>\n >3 days ago @stablekwon<\/a> shares plans to buy $3B in $BTC<\/a> as a reserve asset in Udi’s twitter space pic.twitter.com\/0fFxYHXa4A<\/a><\/p>\n \u2014 Luke Martin (@VentureCoinist) March 22, 2022<\/a><\/p><\/blockquote>\n The mood among Bitcoin traders was thus buoyant March 22, with all-out bullishness still hard to come by following months of relentless sideways price action.<\/p>\n Related:\u00a0Bitcoin hash rate may see \u2018small capitulation\u2019 with difficulty set for new all-time high<\/a><\/strong><\/em><\/p>\n “If Bitcoin can sustain those levels, it seems to me that we’re getting a period of some relief rallies across markets. Would be good,” Cointelegraph contributor Micha\u00ebl van de Poppe concluded<\/a>.<\/p>\n Fellow trader Anbessa, meanwhile, delivered the immediate outlook for BTC\/USD based on a bullish or bearish next reaction.<\/p>\n #Bitcoin<\/a> Gameplan Update ✔️<\/p>\n Following green projection: Red projection only if breakout below bearflag. \u2014 AN\u20bfESSA (@Anbessa100) March 22, 2022<\/a><\/p><\/blockquote>\n Earlier, Cointelegraph reported on the push to over $43,300,\u00a0liquidating<\/a> a significant raft of short positions.<\/p>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/bc808437-6d84-4480-9099-fc6ac28884fc.png\")
Terra co-founder: ‘Most of’ $3 billion still unpurchased<\/h2>\n
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>tweets “I said more than I shoulda”
>traders notice the first $125million has been moved<\/p>\nSky-high BTC price forecasts evade social media<\/h2>\n
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Respecting ascending trendline support ☑️
Respecting potential bear flag support ☑️<\/p>\n
This chart makes it easy for u to stay patient. pic.twitter.com\/ZzlrycUz0u<\/a><\/p>\n