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Terra’s Luna Foundation Guard (LFG) purchased 2,508.94 bitcoins worth about $100 million at the time of settlement on April 13. This purchase followed the 4,130 bitcoins that LFG acquired three days ago, and LFG’s wallet is now just over 495 bitcoins away from surpassing Tesla’s bitcoin treasury stash.
Luna Foundation adds more bitcoins to UST Reserve Wallet
On Wednesday, LFG acquired another batch of bitcoins, adding to the nonprofit’s bitcoin reserve designed to protect the Terra network’s UST stackablecoin. On April 13, 2022, at 1:55 a.m. (UST), the LFG bitcoin wallet picked up another 2,508.94 bitcoins after purchasing 4,130 BTC three days ago. BTC three days ago. The purchase of 2,508.94 BTC was worth $99,914,270 at the bitcoin exchange rate at the time of calculation.
After receiving 2,508.94 BTCLFG’s bitcoin wallet now holds 42,406.92 BTC worth approximately $1.79 billion. A total of 68 transactions have been made on the LFG wallet, but not a single satoshi has been sent from it. The LFG wallet receives a huge number of dust transactions every day.
Currently, according to the bitcoin rich list, the LFG wallet is the 18th largest bitcoin wallet to date. Most of the wallets above the LFG wallet on the bitcoin rich list are large, cold cryptocurrency exchange wallets. For example, the 15th largest bitcoin wallet today is an Okex exchange cold wallet with 45,820 BTC
LFG bitcoin wallet is approaching the Tesla treasure trove, Terra wallet still below Microstrategy and Block.one bitcoin cache
Luna Foundation Guard’s bitcoin wallet is getting closer to surpassing Tesla’s stash of 42,902 BTC In fact, to jump the bitcoin treasure trove of the electric car maker, LFG needs more than 495.08 BTCBTC If LFG’s wallet surpasses Tesla’s, LFG’s bitcoin-reserve address would be only below Microstrategy’s cache of 125,051 BTCBTC in terms of public companies.
As for private companies with bitcoin treasuries, the LFG wallet is below Block.one’s stash of 140,000 bitcoins Block.one is a blockchain software company that handles the EOS EOS networkAnother private cryptocurrency firm that has a bitcoin treasury besides Terra and EOS, is the Tezos Foundation, which operates the Tezos network. Tezos Foundation owns 17,500 bitcoins according to semiannual reports.
While LFG is accumulating bitcoins to use as reserves to protect UST’s stable currency, the organization also announced last week that it would diversify UST’s currency reserves with avalanche tokens (AVAX). LFG partnered with the Avalanche Foundation and explained that it would purchase $100 million of AVAX through an over-the-counter transaction. Following LFG’s recent purchase, the bitcoin price BTC $40,966 per unit on Bitstamp.
Image credits: Shutterstock, Pixabay, Wiki Commons
