Luna Foundation Guard Holds 40,000 BTC After Latest $173M Purchase
The Luna Foundation Guard (LFG), a Singaporean non-profit organization that is building a reserve protocol for the algorithmic stablecoin TerraUSD (UST), over the weekend added $173 million worth bitcoin (BTC) to its coffers.
In total the Luna Foundation Guard holds 39,897.98 Bitcoin, with value of approximately $1.67 billion.
In the past week, the LFG has made several crypto purchases. They acquired $230 million of bitcoin on April 6 and $200 million in AVAX on April 8.
Do Kwon, the founder of Terra Labs and LFG earlier tweeted that the foundation plans to acquire $10 billion in Bitcoin to “open a new monetary era of the bitcoin standard.”
$UST with $10B+ in $BTC reserves will open a new monetary era of the Bitcoin standard.
P2P electronic cash that is easier to spend and more attractive to hold #btc
