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Terra's move to back UST with Bitcoin is worth paying attention to. There are lots of risks, but if they are successful in pulling this off, then they will be creating a playbook for other stable coins and/or central banks to follow. Bitcoin is a decentralized digital currency that has successfully achieved the properties necessary to serve as superior collateral. As more people recognize this achievement, I would anticipate many other assets to adopt the Bitcoin
standard.
Anthony Pompliano
Terra Is Pioneering the Idea of Bitcoin-Backed Currencies
#877 The $10 Billion Bitcoin Bet On Stablecoins
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