Luna Foundation Purchases Another $5 Million in Bitcoin, LFG Wallet Holds 42,530 BTC – Bitcoin News

Luna Foundation Guard (LFG), purchased another 123.89 bitcoin Friday. This transaction was close to $5,000,000 at the settlement. Since mid-March, Terra’s LFG has been acquiring bitcoin on a regular basis and after the purchase on Friday morning, the non-profit organization has approximately 42,530.827 bitcoin.

LFG Acquires Another Batch of Bitcoins for the Project’s Decentralized UST Forex Reserves

Ever since Terraform Labs founder Do Kwon said the Terra project would purchase $3 billion worth of bitcoin for Terra’s decentralized UST forex reserves, LFG has been acquiring quite a bit of BTC. Bitcoin.com News reported on LFG’s last buy when it obtained 2,508 BTC two days ago and the wallet held approximately 42,406.92 BTC after the acquisition.

The non-profit LFG received a smaller amount of bitcoin on Friday. It deposited close to $5,000,000 worth 123.89917 BTC at 11:55 AM (UTC). The funds that were deposited to LFG’s address came from the Binance hot wallet. This excludes random dust transactions which are made daily.

Now LFG’s bitcoin wallet holds 42,530.827 bitcoin worth $1.71 billion at the time of writing. This wallet is 18th in size, after the completion of 69 transactions on January 21, 2022.

Following the Terraform Labs Global Founder Fellow’s creation, the purchase of 123.89 BTC was made. “The aim of the Terra Global Founder Fellowship is to work with top tier early-stage VC firms, accelerator programs, and tech unicorn companies,” the Terraform Labs’ announcement explained on Wednesday.

Jump Crypto, Outlier Ventures and Long Hash Ventures are Terra Global Founder Fellowship Partners.

Terra’s stablecoin UST was also listed on Binance US on April 13, and UST’s market capitalization on April 15 is only $200 million away from surpassing the stablecoin BUSD’s market valuation. Terra’s UST has seen its market cap grow by 15.5% during the last 30 days.

LFG’s Gnosis safe address has seen a lot of action in recent times as well. Three days ago, the address received a deposit in the amount of 86.923,440 USDT. After the non-profit had drawn approximately 100,000,000 USDT on the previous day, this was the result.

According to statistics, the LFG Gnosis safe addresses holds approximately $549.6 millions in stablecoins. The most prominent being USDC (usd coin). The current address holds USDC worth $398.16million, USDT worth $151.4 million and $0.056ETH worth $168.56.

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 is the News Lead for Bitcoin.com News. He also lives in Florida and works as a journalist covering financial technology. Redman is an active participant in the cryptocurrency community from 2011. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for Bitcoin.com News, with over 5,000 articles on disruptive protocols.