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Bitcoin price could break into an uptrend with rising demand for the asset among investors.
Do Kwon, the founder of Terra, revealed that there could be a purchase of $3 billion in Bitcoin to fund the project’s reserves.
Bitcoin price has limited upside potential, according to analysts but Do Kwon, the founder of algorithmic stablecoin protocol Terra, hinted at a future purchase of $3 billion worth of Bitcoin. This purchase, used to fund the reserves of the Terra protocol, could fuel a more bullish narrative for the lead crypto.
A purchase of $3 billion in Bitcoin is the equivalent of nearly 72,804 BTC. Proponents believe this could fuel demand for Bitcoin and positively influence the asset’s price.
FXStreet analysts believe Bitcoin price is ready to breakout; however, the asset’s upside potential is capped at $45,000.