• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Luna Foundation Guard buys much more than 15,000 BTC in five days, holding $ one.one billion in Bitcoin

197
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Terra and Luna Foundation Guard are fulfilling their past dedication to produce a Bitcoin fund in assistance of the UST stablecoin.

Luna Foundation Guard buys much more than 15,000 BTC in five days, holding $ one.one billion in Bitcoin

As reported by Coinlive, in mid-February 2022, a newly formed organization named Luna Foundation Guard (LFG) announced that it had raised $ one billion from numerous substantial investment money to increase capital for the invest in of Bitcoin (BTC). . ), forming the reserve escrow fund for the UST stablecoin of the Earth ecosystem (LUNA).

Related articles

Bitcoin is at $67K but analysis warns BTC price could drop 10% next

Bitcoin is at $67K but analysis warns BTC price could drop 10% next

May 20, 2024
Avalanche (AVAX) price is among the few altcoins that have dropped sharply

Avalanche (AVAX) price tag is amid the couple of altcoins that have dropped sharply – Bitcoin News 2024

April 16, 2024

This strategy was warmly welcomed by Terra, and on March twelve Terraform Labs, the business that produced Terra, stated it had allotted an supplemental twelve million LUNAs (well worth $ one.one billion at the time) to the task. LFG aims to assistance this organization have much more sources to broaden BTC money.

Then, from March 22 to nowadays, the cryptocurrency local community found a Bitcoin wallet address constantly make purchases of BTC on a standard basis just about every day, with a worth of every invest in of roughly three,000 BTC. This indicates that the wallet tackle has extra up to 15,000 BTC in the previous five days. As of the morning of March 27, the wallet tackle holds up to 24,954 BTC, or $ one.one billion.

Luna Foundation Guard’s Bitcoin wallet stability fluctuations as of noon on March 27, 2022. Source: BitInfoCharts

According to Bitcoin Magazine, Terraform Labs CEO Do Kwon has confirmed that the over tackle belongs to the Luna Foundation Guard.

Furthermore, the local community also observed LFG’s BTC invest in technique. Specifically, the organization is utilizing a Gnosis multi-signature wallet tackle to retail outlet stablecoins on Ethereum. That stablecoin will then be moved to an tackle labeled “Binance hot wallet”, which then transfers Bitcoin to LFG’s aforementioned BTC wallet.

Balance of the Luna Foundation Guard Gnosis multi-signature portfolio as of noon on March 27, 2022. Source: Etherscan

As of this creating, Luna Foundation Guard’s Gnosis portfolio nonetheless holds $ one.one billion in stablecoins, for a complete of $ two.one billion raised by the organization in the previous.

Do Kwon, in a Twitter submit, confirmed that Terraform Labs and Luna Foundation Guard’s quick strategy is to accumulate $ three billion well worth of BTC, with a long term vision that will rise to $ ten billion. If this ambition materializes, LFG will come to be 1 of the biggest Bitcoin whales in the planet, surpassing the $ five.five billion well worth of investment company MicroStrategy at 125,000 BTC.

Today it can be not ten billion: as the UST funds provide grows, element of the seigniorage will go to create reserves of BTC linked to the Earth chain

We have three billion of money prepared to sow this reserve, but the technical infrastructures (bridges, and so forth.) are not nevertheless prepared.

– Do Kwon (@stablekwon) March 22, 2022

News that LFG has come forward to acquire Bitcoin, as properly as that Russian officials “implicitly” accept BTC as a payment currency for oil and fuel, has been the driving force behind assisting the world’s biggest cryptocurrency recover at $ 45,000. in the week. .

four-hour chart of the BTC / USDT pair on the Binance exchange at twelve:25 pm on March 27, 2022

Synthetic currency 68

Maybe you are interested:

Maybe you are interested:

Tags: billionBitcoinBTCbuysdaysFoundationguardholdingLUNA
Share79Tweet49

Related Posts

Chainlink, Mastercard Enable Crypto Purchases for 3 Billion Users

by shark
June 26, 2025
0

Chainlink partners with Mastercard to offer decentralized crypto access to 3 billion cardholders, integrating blockchain and DeFi for seamless transactions.

Aurora Mobile Allocates 20% Cash to Cryptocurrencies

by shark
June 25, 2025
0

Aurora Mobile's strategic investment decision to allocate 20% of its cash to cryptocurrencies showcases confidence in digital assets for diversified...

SEC Clarifies Staking Rules, Impact on Crypto Sector

by shark
June 25, 2025
0

SEC clarifies crypto staking rules, impacting Ethereum and Solana. Academic institutions advocate for stringent oversight.

WazirX Granted Court Extension for Restructuring Plan

by shark
June 25, 2025
0

WazirX gains court extension for restructuring post-hack, shielding from lawsuits.

Arbitrum’s Protocol Revenue Soars by 23% Amid Renewed DAO Partnership

by shark
June 25, 2025
0

Arbitrum sees a 23% increase in protocol revenue as strategic DAO collaboration boosts financial outcomes.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • Chainlink, Mastercard Enable Crypto Purchases for 3 Billion Users
  • Aurora Mobile Allocates 20% Cash to Cryptocurrencies
  • Top altcoin for huge gains: Qubetics ($TICS) vs Bitcoin vs BNB comparison
  • SEC Clarifies Staking Rules, Impact on Crypto Sector
  • WazirX Granted Court Extension for Restructuring Plan
  • Arbitrum’s Protocol Revenue Soars by 23% Amid Renewed DAO Partnership
  • Bonk Price Prediction: Bonk Fades After 11,954% Rally as Troller Cat Prepares to Pounce With 13x Potential
  • Polymarket Shows Low Trump Impeachment Odds for 2025
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7