Terra (LUNA) and Luna Foundation Gaurd (LFG) has purchased 4,130 bitcoin valued at $176.1 million. LFG currently possesses a total of 39,897.98 bitcoin worth $1.7 billion, based on today’s bitcoin exchange rates.
The Singapore non-profits Gnosis safe address withdrew 183,515,000 tethers (USDT) from the address before the LFG bitcoin wallet noticed those deposits. The LFG Ethereum address has just 164.17 million tethers left, according to on-chain measurements.
However, the address does contain a significant amount of USDC, as it now owns 398.95 million USDC on April 10. The Terra (LUNA) project now has 563.12 million stablecoins in its possession.
Using today’s BTC exchange rates, the LFG bitcoin wallet currently has 39,897.98 bitcoin worth $1.7 billion after depositing 4,130 bitcoin. Since its creation, the wallet has seen a total of 66 transactions or deposits, but 0 bitcoin has been paid out.
Terra’s bitcoin dream of $10 billion
At the current price of $42,752, the most recent Bitcoin buy amounts to roughly $1.7 billion.
Consequently, the Luna Foundation will need to purchase an additional $8.3 billion in BTC to accomplish its aim of possessing $10 billion in BTC and overtaking Satoshi Nakamoto as the second-largest Bitcoin holder.
The purchase of 4,130 Bitcoin by the Luna Foundation did not cause a knee-jerk reaction in the crypto markets. At the time of writing, the King of Crypto is settling above the critical $42,000 support level.
The Luna Foundation Gaurd (LFG) has announced a collaboration with the Avalanche Foundation, revealing that it would purchase $100 million worth of avalanche (AVAX) on an over-the-counter (OTC) market.
The $100 million in AVAX will be used to diversify the project’s UST Decentralized Forex Reserve holdings. Terrausd, or UST, is Terra’s (LUNA) algorithmic stablecoin, and LFG has backed the FX reserve with bitcoin as well (BTC).
The Luna Foundation Gaurd (LFG) has announced a collaboration with the Avalanche Foundation, revealing that it would purchase $100 million worth of avalanche (AVAX) on an over-the-counter (OTC) market.
The $100 million in AVAX will be used to diversify the project’s UST Decentralized Forex Reserve holdings. Terrausd, or UST, is Terra’s (LUNA) algorithmic stablecoin, and LFG has backed the FX reserve with bitcoin as well (BTC).