Luna Foundation Guard purchases additional 37,863 BTC as part of reserve strategy

Luna Foundation Guard (LFG), a Singapore-based nonprofit tied to the Terra Luna ecosystem, has raised different $1.5 cardinal to further grow its already hefty Bitcoin (BTC) reserves.

The rise allowed LFG to get 37,863 BTC via over-the-counter swaps with broker Genesis Trading and further purchases from Three Arrows Capital, a starring crypto task superior firm. The circumstantial breakdown of the woody included a $1 cardinal over-the-counter swap with Genesis and a $500 cardinal acquisition from Three Arrows Capital, the institution disclosed Thursday. 

LFG present holds astir $3.5 cardinal worthy of BTC, which puts it among the top-ten holders successful the world, according to CNBC. 

1/ The LFG has acquired an further 37,863 Bitcoins totaling ~$1.5 cardinal successful OTC swaps with @GenesisTrading and 3AC. https://t.co/Ezzfwl7VFn

— LFG | Luna Foundation Guard (@LFG_org) May 5, 2022

With the latest purchase, Luna Foundation Guard is inching person to its extremity of accumulating up to $10 cardinal successful Bitcoin to backmost algorithmic stablecoin U.S. Terra, which is besides known arsenic UST. As Cointelegraph reported, LFG purchased $139 cardinal worthy of BTC successful precocious March, astir 2 months aft the institution began to amass superior quantities of the integer asset.

Do Kwon, the CEO of Terraform Labs, has stated that his extremity is to physique up a Bitcoin stash that rivals that of Satoshi Nakamoto, the integer asset’s pseudonymous creator.

Just getting started pic.twitter.com/dJrkf6YfrR

— TerraLunaaaa (@TerraLunaaaa) March 30, 2022

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