Onchain Data Shows Terra’s Luna Foundation Continues to Stack Bitcoin

This week there’s been a batch of speech astir Terra’s Luna Foundation purchasing bitcoin to clasp successful its reserves pool. Onchain information shows the organization’s wallet has transferred astatine slightest 3 tranches of tether worthy $125 cardinal each. Furthermore, reports amusement that the Luna Foundation has confirmed the caller bitcoin purchases.

Onchain Data Indicates Terra’s Luna Foundation Has Sent 3 Tranches of Tether to Purchase Bitcoin, Foundation Confirms Bitcoin Address

Two days ago, Bitcoin.com News reported connected Terra’s laminitis Do Kwon discussing however helium looks guardant to gathering with bitcoin. In the report, accounts and onchain information showed that $125 cardinal successful tether (USDT) was transferred from a wallet that reportedly stems from Terra’s Luna Foundation.

The wallet is simply a Gnosis harmless address and it holds $1.39 cardinal successful ERC20-based stablecoins similar tether (USDT) and usd coin (USDC). After the archetypal transportation of $125 cardinal successful tether 2 days ago, there’s been 2 much transactions of the aforesaid amount. On March 23, $125 cardinal successful tether was moved and past the pursuing time $124.9 cardinal successful USDT was transferred.

While speculation implicit the purchases has been circulating wildly connected societal media and forums, Bitcoin Magazine’s authoritative Twitter relationship tweeted connected March 23: “Luna Foundation confirms 6,000 bitcoin acquisition worthy $250 cardinal to backmost its UST stablecoin.”

Tweet from Bitcoin Magazine connected March 23, 2022, that notes the Luna Foundation has confirmed the bitcoin reserve wallet address.

Additionally, the Twitter relationship near a Blockchair explorer PDF document that shows the Luna Foundation’s BTC address. The Twitter relationship further added that “the 5,934 bitcoin – purchased contiguous and yesterday – volition beryllium wrapped connected Cosmos and deposited successful astute contracts supporting the algorithmic stablecoin.”

Blockchair’s blockchain explorer shows the wallet presently holds 18,423 BTC worthy $788.5 million. The past transaction it received was for 440 BTC, but it’s besides received transactions of astir 1,499, 999, 469, 498, 499, 500, and 501 BTC archetypal received connected March 23, 2022.

The transactions were sent with nary privateness tactics arsenic Blockchair’s privacy-o-meter instrumentality gives astir of the transactions a privacy people of “critical” oregon 0. The past transaction stemming from the wallet had 3 captious issues tied to the privateness of the transaction and 1 privateness vulnerability was “matched addresses.”

At the clip of writing, the Terra-owned Gnosis harmless code inactive has $999.35 cardinal worthy of tether (USDT) and $397.23 cardinal worthy of usd coin (USDC).

What bash you deliberation astir the reports and information showing Terra’s Luna Foundation purchasing ample amounts of bitcoin for reserves? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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