A new stablecoin issuer is buying billions of dollars in bitcoin. What crypto investors need to know

Chris Ratcliffe | Bloomberg | Getty Images

This past week the price of bitcoin climbed above $48,000 for the first time since Dec. 31. In the same week, LUNA, the governance token behind the Ethereum alternative Terra, hit an all-time high.

More In Pro Insight

CNBC ProProfit margins are going to shrink, regardless of recession
CNBC ProFund manager says this stock is so cheap it makes 'no sense'
watch now
CNBC ProThe U.S. stock market has a lot of screaming buys right now, says CIO