Do Kwon’s Luna Foundation Guard becomes top 20 hodler of Bitcoin

Luna Foundation Guard (LFG) purchased different $176 cardinal worthy of Bitcoin (BTC) connected April 10 to go 1 of the top 20 astir affluent Bitcoin addresses.

Terra bought different 4,130 #BTC ($170m) today.

They present clasp much than 0.2% of the existent #bitcoin supply. That puts it successful the apical 20 wallets erstwhile ranked by holdings.

Total holdings = 39,897 BTC

— Harry 🌕 (@CryptoHarry_) April 10, 2022

The Master of Stablecoin, Do Kwon, besides also hinted astir the acquisition connected Twitter. aft dealing with a “Luna expose.”

Feeling cute, mightiness spell buying aboriginal 🧡

— Do Kwon 🌕 (@stablekwon) April 10, 2022

In January, LFG announced that it volition acquisition $10 cardinal worthy of BTC. So far, it has spent $1.73 billion connected astir 39,897 BTC, which it holds successful reserve. Since January 26, the LFG Bitcoin wallet has grown from little than 1 BTC to astir 40 1000 BTC implicit 91 transactions.

If they proceed to bargain Bitcoin into this wallet until they scope $10 billion, they volition person the second-largest Bitcoin wallet. The biggest wallet presently holds 252,597 BTC and is owned by Binance.

Bitcoin is not the lone furniture 1 blockchain task connected LFG’s equilibrium sheet. It has besides started buying Avalanche (AVAX) tokens to enactment its UST reserve. Furthermore, an announcement connected April 7 confirmed that the UST reserve would besides beryllium adding different furniture 1 crypto assets successful the aboriginal to make a “diverse pool.”

Welcoming $AVAX arsenic the 2nd large furniture 1 crypto plus adjacent to $BTC arsenic portion of the $UST Reserve.

The inclusion of @avalancheavax's autochthonal token marks the commencement of a divers excavation of furniture 1 crypto assets helping enactment the $UST peg.

It's lone conscionable the opening frens. https://t.co/5utdQMVAiw

— LFG | Luna Foundation Guard (@LFG_org) April 7, 2022

UST is an algorithmic stablecoin which means determination is nary authoritative request to ain assets arsenic collateral to peg the dollar worth of the coin. Instead, the LUNA token works to support parity betwixt UST and the dollar.

LFG intends to make a UST reserve consisting of Bitcoin, Avalanche, USDC, and USDT.