There appears to be a synergy between bitcoin and the Terra ecosystem, according to Lucas Outumuro, head of research at IntoTheBlock, a crypto data company. “UST benefits from having additional backing and bitcoin benefits not just from the buying pressure, but also from having a stable medium of exchange backed by BTC,” Outumuro wrote in an email to CoinDesk.
Source: https://www.coindesk.com/markets/2022/03/28/market-wrap-bitcoin-rallies-as-crypto-holders-accumulate/?utm_medium=referral&utm_source=rss&utm_campaign=headlines