Skip to main content

Luna Foundation Guard is buying another 37,863 BTC as a reserve

 


Luna Foundation Guard (LFG) is a Singapore-based non-profit organization associated with the Terra Luna ecosystem. It has now raised $1.5 billion to buy more Bitcoin ( BTC ) for its reserves.


With the money, LFG was able to buy 37,863 BTC via over-the-counter swaps with broker Genesis Trading. Additionally, she has also bought BTC through Three Arrows Capital, a leading crypto hedge fund. As the company announced on Thursday, that deal included a $1 billion over-the-counter swap with Genesis for $1 billion in UST and a $500 million purchase of BTC from Three Arrows Capital.


LFG now holds around $3.5 billion worth of BTC, making it one of the top 10 largest Bitcoin holders worldwide, according to CNBC, CNBC reported . 

Luna Foundation Guard aims to buy up to $10 billion in Bitcoin to fund algorithmic stablecoin US Terra (UST). As Cointelegraph reported, LFG bought $139 million worth of BTC in late March . Two months earlier, the company has gradually accumulated larger quantities.


Do Kwon , the CEO of Terraform Labs, has stated that his goal is to build a Bitcoin fortune as large as that of Satoshi Nakamoto, the unknown creator of the digital asset.


UST is the most popular algorithmic stablecoin, according to CoinMarketCap, with a market cap of over $18.6 billion. Only Tether ( USDT ) and USD Coin ( USDC ) have a higher market value and larger supply in circulation. 


In addition to Luna Foundation Guard, other companies are also buying Bitcoin in a big way. Publicly traded business intelligence company MicroStrategy accumulates the asset regardless of Bitcoin price. In April, the company bought 4,197 BTC , bringing the total to 129,218 BTC.


Bitcoin briefly fell below $37,000 on Thursday . Risky markets have fallen sharply after a brief rally post FOMC meeting. Bitcoin is down 5.3 percent on the day to trade at $37,126, according to data from Cointelegraph Markets Pro and TradingView .

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

Cardano price forecast – price breaks out! Are we near $1.5 soon?

 In our last Cardano price prediction , we wrote that the price could break out soon. The reason for this was a symmetrical triangle. This triangle was performed after the crash, so we expected the price to break down. But now the course has broken out of the triangle in a bullish manner. But how far could the course rise or what is the goal? Today we will explain to you about the Cardano course ! Cardano price broke out of the triangle and was able to rally to the $1.19 resistance. We tested this resistance, and a short time later the price was sold off. The triangle's target was around $1.23, so we now believe the price has completed the target. As a result, we no longer expect a further increase. Instead, the price could now descend and possibly form new lows. If the price breaks the $1.19 resistance, the price could rally to around $1.5. There is the next resistance where the Cardano price could bounce. If Cardano price fails to break the $1.19 resistance, we would expect the p...
Post a Comment
Read more

Tesla Beats Sales Expectations - Bitcoin Holdings Remain Flat

  The car manufacturer presented its report for the fourth quarter on Wednesday evening. Tesla exceeded expectations for sales and profits. Bitcoin holdings, meanwhile, remain unchanged. Tesla (TSLA) published the Q4 report for 2021 last night. Overall, the electric car maker recorded a sales increase of 65 percent in this quarter compared to the previous year. In the automotive sector alone, sales rose to 15.97 billion US dollars. In addition, the US company set a new record profit of 5.5 billion US dollars - an increase of 665 percent over the previous year. Analysts previously expected adjusted earnings of $2.36 per Tesla share. With 2.54, the carmaker was able to significantly exceed this value - with positive effects on the TSLA course, which recorded an increase of almost 4 percent. Tesla's bitcoin holdings, meanwhile, remained unchanged. At the end of the fourth quarter, the value remained stable compared to the previous quarter at $1.26 billion. In February 2021, Elon Musk...
Post a Comment
Read more

Cardano founder doubts Bitcoin's future as world reserve currency

  Cardano's founder doesn't believe Bitcoin has what it takes to become the world's leading currency. Charles Hoskinson stated in a recent interview that he didn't think Bitcoin would become the world reserve currency. According to the founder of Cardano, a cryptocurrency with smart contract features would become the global reserve currency. Hoskinson believes Cardano or Ethereum would become the world reserve currency. A global reserve currency must offer services like smart contracts, metadata standards, and improved throughput that complete enormous transactions per second. According to the Cardano founder , the scarcity of Bitcoin is due to the high cost of production: "If you make paintings, one of which you have to paint by hand and the other by machine, and both look the same and the demand for both is the same, then the effort for one is a thousand times greater than for the other." Hoskinson spoke about Bitcoin's massive energy consumption, addin...
Post a Comment
Read more