Terra blockchain founder Do Kwon has strongly reconfirmed his company’s plan to keep buying Bitcoin as a reserve asset. Meanwhile, not to be outdone, Bitcoin bull Michael Saylor’s firm buys a shedload more.

Kwon was interviewed by Bloomberg TV on Monday, and indicated that Terra’s BTC buying spree to back the firm’s stablecoin, TerraUSD (UST), would continue “in perpetuity”.

Terra’s nonprofit Luna Foundation Guard (LFG) now reportedly has more than 30,000 BTC, which at current estimation is worth about US$1.4 billion. It’s well on its way to achieving its first-stated target of a US$3 billion reserve, which Kwon aims to eventually expand to US$10 billion.

But, judging by his latest comments, it seems Kwon and Terra aren’t going to stop there.

“One important thing to remember about what we’re [doing] here is that this is not a corporate treasury decision in the sense that I am not buying Bitcoin,” he told Bloomberg TV, adding:

“I‘ve already donated money so that we can build up these reserves on behalf of the community and we plan to be doing this in perpetuity…

“So the $3 billion or so that we‘re buying initially to bootstrap the reserves is going to be followed up by persistent buys of Bitcoin through UST seniorage… Every time UST is minted, there will be new Bitcoin that is added to the reserves.”


MORE! MORE! MORE! MicroStrategy keeps ‘stacking Sats’

Terra still has some way to go to catch up to business-intelligence software company MicroStrategy in the BTC-accumulation, “stacking Satoshis” race.

The Michael Saylor-led firm, through its “MacroStrategy” division, has today announced it’s made yet another large bunch of purchases of the OG asset – totalling another 4,167 BTC for about US$190.5 million.

Saylor has said on numerous occasions that MicroStrategy plans to hold the Bitcoin for the long term with no plans to sell.

All this buying and reported bullishness today must be sending the Bitcoin price rocketing up, right?

Actually, it’s trading pretty flat again today at the time of writing (+0.06%), changing hands for about US$46.5k.