Luna Foundation’s Bitcoin Reserve Wallet Now Holds $1.1 Billion in BTC

During the past week, the cryptocurrency assemblage has been discussing the bitcoin purchases made by Luna Foundation Guard (LFG), arsenic onchain information shows LFG’s bitcoin wallet presently holds 24,954.95 bitcoin worthy $1.1 billion. LFG’s Gnosis harmless code shows implicit the past 4 days, there’s been 660.6 cardinal tethers sent retired of the foundation’s wallet.

Do Kwon Confirms Bitcoin Wallet Belongs to LFG

On March 26, 2022, the Luna Foundation Guard’s bitcoin wallet holds 24,954.95 BTC worthy $1.1 billion. During the past 4 days, the code has accumulated a monolithic fig of bitcoin aft Terra’s laminitis Do Kwon precocious hinted astatine the blockchain task leveraging bitcoin-linked tokenomics. After idiosyncratic asked Terra’s laminitis wherefore the task decided to take bitcoin (BTC) for a reserve asset, Do Kwon replied:

Bitcoin is the lone hard reserve plus that’s been proven retired of the integer currencies… It is precise hard for idiosyncratic successful crypto to question bitcoin.

After the statement, the assemblage noticed question stemming from a Gnosis harmless address that is reportedly owned by the LFG. Additionally, the quality work Bitcoin Magazine tweeted astir the LFG’s bitcoin code and said the instauration confirmed the code and purchases “to backmost its UST stablecoin.” Following the statement, connected March 25, the quality work further verified the tweet successful an article that said: “Terraform Labs laminitis Do Kwon connected Wednesday confirmed via email that the code so belongs to LFG.”

On March 26, 2022, astatine 1:00 p.m. (ET), LFG’s bitcoin wallet holds 24,954.95 bitcoin worthy implicit $1.1 billion.

3AC Co-Founder Says ‘Buying $125 Million a Day of Bitcoin for Three Months Is a Lot’

Since then, the LFG bitcoin address continues to accumulate BTC arsenic the past transaction shows it obtained 493 BTC connected March 26 astatine 5:18 a.m. (UTC). It holds 24,954.95 bitcoin worthy $1.1 cardinal and the code has ne'er sent a azygous satoshi retired of the wallet. The Gnosis harmless code has sent 4 USDT transactions worthy astir $125 cardinal and the past tether nonstop was for 160,750,000 USDT.

The bitcoin code that has been sending BTC to the LFG bitcoin code has been flagged arsenic a “Binance blistery wallet,” according to oxt.me data and bitquery.io’s wealth travel stats. All of the BTC inputs that are held successful the LFG bitcoin code derived from the flagged Binance blistery wallet. As acold arsenic the Gnosis harmless code is concerned, determination is inactive plentifulness of funds successful the wallet to proceed purchasing BTC connected a regular basis.

Currently, the Gnosis harmless code holds $715.2 cardinal successful tether (USDT) and $398.23 cardinal successful usd coin (USDC). The purchasing spree has further caused a batch of discussions wrong the crypto community. “I tin archer immoderate of you person not executed size before,” Kyle Davies, the co-founder and president of Three Arrows Capital (3AC) tweeted. “Let maine archer you buying $125mil/day of [bitcoin] for 3 months is simply a lot.”

What bash you deliberation astir the LFG’s stack of bitcoin reserves? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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