Luna Foundation Guard (LFG), which purchased $176 million more Bitcoin (BTC), on April 10, to make it one of the 20 most wealthy Bitcoin addresses.
Terra purchased another 4,130 #BTC today ($170m).
They currently hold over 0.2% of #bitcoin’s current supply. This puts it among the top 20 wallets ranked by holdings.
Total holdings = 39.897 BTC
(@CryptoHarry_ April 10, 2022
Do Kwon (Master of Stablecoin), also hinted at the purchase via Twitter. After dealing with a “Luna exposure.”
If you feel cute, you might shop later
(@stablekwon April 10, 2022
LFG announced in January that it would purchase $10 billion worth Bitcoin. It has already spent approximately $1.73 billion on 39,897 BTC. The rest of its reserve is still in reserve. Over 91 transactions, the LFG Bitcoin wallet’s value has increased from less than 1 BTC to nearly 40 000 BTC since January 26.
They will be the second-largest Bitcoin wallet if they continue to buy Bitcoin into it until they reach $10 Billion. Binance currently owns the largest wallet, which holds 252,597 BTC.
LFG does not have Bitcoin as the only layer-one blockchain project. To support its UST reserve, it has started to buy Avalanche tokens (AVAX). A statement on April 7 stated that the UST reserve will be adding layer one crypto assets to its future “diverse pool”.
$UST Reserve: $AVAX is now the second largest layer one crypto asset after $BTC.
@avalancheavax’s native crypto token is now part of a pool of layer-one crypto assets that will support the $UST peg.
This is just the beginning. https://t.co/5utdQMVAiw
— LFG | Luna Foundation Guard (@LFG_org) April 7, 2022
UST is an algorithmic stablecoin, which means that there is no requirement to have assets to help peg the coin’s dollar value. The LUNA token is used to maintain parity between USTs and the dollar.
LFG plans to create a UST Reserve consisting of Bitcoin and Avalanche as well as USDC and USDT.
Do Kwon’s Luna Foundation Guard is a top 20 hodler for Bitcoin CryptoSlate.
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