
On April 6, onchain data shows the Luna Foundation Guard’s (LFG) bitcoin wallet has added 5,040 bitcoin to its reserves. These funds had a total value of approximately $221 millions at settlement. LFG purchased bitcoins at a time when bitcoin had lost 3.9% to the U.S. Dollar in the previous 24 hours.
LFG buys the Dip and Acquires 5,040 Bitcoin More
The Terra network’s Terra Network (LUNA), and Luna Foundation Guard (LFG), a non-profit based in Singapore continue to stack Bitcoin. Less than a week ago, Bitcoin.com News reported on LFG’s wallet and explained that it held 30,727.97 BTC.
The stash had a value of more than $1.4 Billion using BTC exchange rates that were in effect six days earlier. For roughly six days, the LFG bitcoin stash didn’t see any additional deposits.
LFG received 2,485 BTC from the wallet at 6:57 AM (UTC) on April 6. The bitcoin wallet continued receiving payments until it reached 5,040 BTC. It’s worth noting that LFG’s bitcoin wallet gets dust transactions sent to it, as this is a common occurrence with well known wallets with sizable amounts of bitcoin.
After acquiring the 5,040 BTC, LFG’s wallet now holds 35,767.98 BTC worth $1.58 billion at the time of writing. According to the Bitcoin Rich list hosted on bitinfocharts.com, the LFG wallet, which is flagged as “Luna-LFG,” now holds the 21st largest bitcoin wallet position.
It was the 29th-largest wallet six days prior. In order for the LFG bitcoin wallet to surpass Tesla’s bitcoin balance sheet, the wallet needs more than 7,135 BTC. Despite this, LFG’s bitcoin wallet is larger than every other publicly-listed company’s BTC treasury except for Tesla and Microstrategy.
LFG’s wallet value is currently half of the $3 billion worth of BTC Terra’s founder Do Kwon hinted the project would purchase in March. The project has managed to purchase the BTC while bitcoin’s price dropped 3.9% during the last 24 hours.
Bitcoin’s USD value dropped to a low of $43,388 on Wednesday on the exchange Bitstamp. LFG’s purchase of 5,040 BTC also follows Microstrategy’s purchase of 4,167 bitcoins the day before. Microstrategy’s buy on Tuesday lifted the company’s balance to 129,218 bitcoins.
What do you think about the Luna Foundation Gaurd’s bitcoin wallet acquiring 5,040 more bitcoin? Please comment below to let us know your thoughts on this topic.
Images Credits: Shutterstock, Pixabay, Wiki Commons, bitinfocharts.com/bitcoin/wallet/Luna-LFG
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