The Terra Foundation Gaurd LFG is on a purchasing spree for Bitcoin (BTC). LFG’s bitcoin address shows that it purchased an additional $228.5 million worth 5040 BTC in a day.
Earlier, Wu Blockchain announced that the foundation has transferred $231.4 million USDT to Binance. This accumulation has resulted in total holdings of 35,768 BTC. In the last 24 hours, the world’s largest cryptocurrency is down by almost 3%.
 LFG holds $1.62B worth of BTC
Terra first purchased 1,479 and 2,485 BTC in the first two transactions, according to reports. The additional two transactions of acquiring 586 and 490 BTC later, took LFG’s Bitcoin holdings above the 35,000 milestones. The foundation holds $1.62 billion worth of Bitcoin in the reserve.
The Luna Foundation Guard’s wallet has completed 59 transactions to amass its total BTC holdings. The largest single transaction has been 8,588 Bitcoins. Meanwhile, the maximum number of transactions recorded in a day was 9, with 29 being the largest number of transactions occurring in a week.
With this pace, Do Kwon’s objective to buy $10 billion in Bitcoin will be fulfilled soon. However, he intends to purchase an initial $3 billion worth of BTC, with the remaining reserve to be funded through earnings from currency issuance or seigniorage.Â
In bid to build $10 billion BTC reserve
Kwon announced the creation of a $10 billion Bitcoin reserve on March 14th. He also stated that they had $3 billion of funds ready to seed the reserve. LFG made its first acquisition on March 21. It’s been only 16 days since the foundation added over $1.62 billion worth of Bitcoin.Â
However, it is a good day to buy Bitcoin because the price has dropped by roughly 3%. LFG appears to have purchased a dip. Bitcoin is currently trading at an average price of $45,330. Its 24-hour trading volume of 35,222,170,279 dollars has seen an increase of 15%. BTC still leads cryptocurrency with an $861 billion market capitalization.
Terra Luna is marginally down by 0.35 in the last 24 hours. It is currently trading at an average of $114.8. With a market cap of nearly $40 billion, the coin has surpassed Ripple’s XRP to become the seventh-largest cryptocurrency.
