Onchain Data Shows Terra’s Luna Foundation Continues to Stack Bitcoin – Bitcoin News

This week there’s been a lot of talk about Terra’s Luna Foundation purchasing bitcoin to hold in its reserves pool. Onchain data shows the organization’s wallet has transferred at least three tranches of tether worth $125 million each. Reports indicate that Luna Foundation also confirmed bitcoin purchases.

Onchain Data Indicates Terra’s Luna Foundation Has Sent 3 Tranches of Tether to Purchase Bitcoin, Foundation Confirms Bitcoin Address

Two days ago, Bitcoin.com News reported on Terra’s founder Do Kwon discussing how he looks forward to building with bitcoin. In the report, accounts and onchain data showed that $125 million in tether (USDT) was transferred from a wallet that reportedly stems from Terra’s Luna Foundation.

It is located at a Gnosis safe adress and holds $1.39 Billion in ERC20 stablecoins such as tether (USDT), and usd coin(USDC). After the first transfer of $125 million in tether two days ago, there’s been two more transactions of the same amount. One transaction of $125 million was made in tether on March 23rd, and the next day was $124.9 million USDT.

While speculation over the purchases has been circulating wildly on social media and forums, Bitcoin Magazine’s official Twitter account tweeted on March 23: “Luna Foundation confirms 6,000 bitcoin purchase worth $250 million to back its UST stablecoin.”

Additionally, the Twitter account left a Blockchair explorer PDF document that shows the Luna Foundation’s BTC address. The Twitter account also left a Blockchair explorer PDF document that shows the Luna Foundation’s BTC address. added that “the 5,934 bitcoin – purchased today and yesterday – will be wrapped on Cosmos and deposited in smart contracts supporting the algorithmic stablecoin.”

Blockchair’s blockchain explorer shows the wallet currently holds 18,423 BTC worth $788.5 million. The last transaction it received was for 440 BTC, but it’s also received transactions of around 1,499, 999, 469, 498, 499, 500, and 501 BTC first received on March 23, 2022.

The transactions were sent with no privacy tactics as Blockchair’s privacy-o-meter tool gives most of the transactions a privacy score of “critical” or 0. The last transaction stemming from the wallet had three critical issues tied to the privacy of the transaction and one privacy vulnerability was “matched addresses.”

The Terra-owned Gnosis safe location still holds $999.35 Million worth of tether and $397.23 Million worth of usd coins (USDT).

What do you think about the reports and data showing Terra’s Luna Foundation purchasing large amounts of bitcoin for reserves? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has been an active member ever since. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 5,000 articles to Bitcoin.com News since September 2015. These articles are about disruptive protocols that are emerging.