In March, Terra founder Do Kwon LUNA two about the price cryptocurrency The claim of 11 million dollars with his investor came up again.
Kwon Claimed LUNA Price Will Be Above $88 In March 2023
Kwon participated in a bet that the price of the LUNA will be above $88 in March 2023.
Terra founder bets $10 million with a cryptocurrency investor named GiganticRebirth and $1 million with a cryptocurrency investor named GiganticRebirth.
GiganticRebirth also doubled its claim by opening a short position for LUNA after this claim.
The parties had deposited and locked a total of $22 million USDT into the escrow account of an investor nicknamed Cobie, a cryptocurrency-themed podcast host.
With the recent crash of the LUNA altcoin, there is no longer any doubt as to which side will win this $22 million bet. At the time of this writing, the LUNA price is trading at $0.0006918.
Two Claiming Investors Have Always Said Terra Is Unsustainable Before
Both GiganticRebirth and Algod have raised concerns about Terra multiple times before, angering Kwon and other LUNA investors.
While the LUNA collapse was disastrous for the crypto market, investors who predicted the unsustainability of the UST were right.
Talking about LUNA’s downfall, Algod demanded that Kwon pay early for their claim:
“It is now clear that the original LUNA token will not reach $88, in addition, when a new version of the token is released, me and GiganticRebirth will automatically win.”
*Not investment advice.