Luna Foundation Buys 2,508 Bitcoin for $100 Million, Stash Is Only 495 BTC Away From Tesla’s Balance – Bitcoin News

On April 13, Terra’s Luna Foundation Guard (LFG) acquired 2,508.94 bitcoin worth close to $100 million at the time of settlement. The purchase follows the 4,130 bitcoin LFG scooped up three days ago, and LFG’s wallet is now just over 495 bitcoin away from surpassing Tesla’s bitcoin treasury stash.

Luna Foundation Adds Bitcoin to UST Reserve Wallet

LFG purchased another batch of bitcoin on Wednesday, adding to the non-profit’s bitcoin reserves meant to protect the Terra network’s stablecoin, UST. The LFG wallet bought another 2,508.94 BTC on Wednesday, April 13th at 1:55 am (UST). This comes three days after it acquired 4,130 BTC. At the time of settlement, 2,508.94 BTC were worth $99 914,270.

The LFG Bitcoin wallet holds 42,406.92 BTC and is worth approximately $1.79 million. LFG’s wallet has seen a total of 68 transactions but has never sent a single satoshi out of the wallet. LFG’s wallet has seen a multitude of transactions in dust on a daily bases.

According to the current bitcoin rich list, LFG wallet currently ranks 18th in terms of bitcoin wallets. Large cryptocurrency exchange cold wallets make up a large portion of wallets that are above the LFG wallet on the bitcoin richlist. An Okex cold wallet, which has 45,820 BTC, is the 15th most popular bitcoin wallet.

LFG Bitcoin Wallet Nears Tesla’s Treasury Stash, Terra’s Wallet Still Below Microstrategy’s and Block.one’s Cache of Bitcoins

The Luna Foundation Guard’s bitcoin wallet is getting awfully close to surpassing Tesla’s stash of 42,902 BTC. In fact, in order to jump above the electric car maker’s bitcoin treasury, LFG needs more than 495.08 BTC. If LFG’s wallet were to surpass the Tesla wallet, the LFG bitcoin reserve address would only be below Microstrategy’s cache of 125,051 BTC in terms of public companies.

In terms of private companies with bitcoin treasuries, LFG’s wallet is below Block.one’s stash of 140,000 bitcoin. Block.one is a blockchain software company that’s dedicated to the EOS network. Tezos Foundation, a private organization that’s dedicated to the Tezos Network, also has a cryptocurrency treasury. According to biannual filings, The Tezos Foundation owns 17,500 Bitcoin.

LFG has been hoarding bitcoin in order to secure the stablecoin UST. However, LFG also revealed last week that the Avalanche Foundation (AVAX tokens) would be used to diversify its UST forex reserves. LFG announced that it had partnered with Avalanche Foundation to purchase $100 million AVAX through an over-the counter (OTC). After LFG’s recent purchase, the price of bitcoin (BTC) jumped over 2% at 10:30 a.m. (EST) on Wednesday, to a high of $40,966 per unit on Bitstamp.

What do you think about the Luna Foundation’s growing stash of bitcoins? Please comment below to let us know your thoughts on this topic.

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.