{"id":26107,"date":"2022-05-05T14:36:56","date_gmt":"2022-05-05T18:36:56","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=26107"},"modified":"2022-05-05T14:37:04","modified_gmt":"2022-05-05T18:37:04","slug":"luna-foundation-guard-adds-37863-btc","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/luna-foundation-guard-adds-37863-btc\/","title":{"rendered":"Luna Foundation Guard adds 37,863 BTC worth $1.5B to its reserve"},"content":{"rendered":"\n
The Luna Foundation Guard<\/a> (LFG) has added 37,863 valued at $1.5 billion to its reserves following a partnership with Genesis Trading and Three Arrows Capital.<\/h5>\n\n\n\n
\"Luna
Luna Foundation Guard adds 37,863 BTC worth $1.5B to its reserve<\/figcaption><\/figure><\/div>\n\n\n\n

According to the business, the agreement involved a $1 billion over-the-counter swap with Genesis in exchange for $1 billion in UST and a $500 million BTC buy from Three Arrows Capital.<\/p>\n\n\n\n

According to CNBC, LFG currently possesses nearly $3.5 billion in BTC, placing it among the top-10 holders\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> in the world.<\/p>\n\n\n\n

\n

1\/ The LFG has acquired an additional 37,863 Bitcoins totaling ~$1.5 billion in OTC swaps with @GenesisTrading<\/use><\/svg><\/span><\/a> and 3AC. https:\/\/t.co\/Ezzfwl7VFn<\/use><\/svg><\/span><\/a><\/p>— LFG | Luna Foundation Guard (@LFG_org) May 5, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

Luna Foundation Guard is getting closer to its aim of amassing up to $10 billion in Bitcoin to back algorithmic stablecoin U.S. Terra, better known as UST, with this new purchase.<\/p>\n\n\n\n

LFG purchased $139 million worth of BTC in late March, according to Coinscreed, nearly two months after the corporation began amassing significant amounts of the digital commodity.<\/p>\n\n\n\n

Do Kwon, the CEO of Terraform Labs<\/a>, has indicated that his ambition is to amass a Bitcoin fortune comparable to that of Satoshi Nakamoto, the digital currency's eponymous founder.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TerraLunaaaa\/status\/1509120568783740934\n<\/div><\/figure>\n\n\n\n

According to CoinMarketCap, UST has become the most popular algorithmic stablecoin<\/a>, with a market valuation of approximately $18.6 billion. Only Tether (USDT) and USD Coin (USDC) have a higher circulating supply and market value.<\/p>\n\n\n\n

The Luna Foundation Guard isn't the only company buying Bitcoin in the news. MicroStrategy, a publicly-traded business analytics firm, continues to accumulate sats independent of Bitcoin's price. The corporation increased its reserves by 4,197 BTC in April, bringing its total assets to 129,218 BTC.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The Luna Foundation Guard (LFG) has added 37,863 valued at $1.5 billion to its reserves following a partnership with Genesis Trading and Three Arrows Capital. According to the business, the agreement involved a $1 billion over-the-counter swap with Genesis in exchange for $1 billion in UST and a $500 million BTC buy from Three Arrows […]<\/p>\n","protected":false},"author":12,"featured_media":26113,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[152,9574,7787],"class_list":["post-26107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-lfg","tag-luna-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/image-49.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/26107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=26107"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/26107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/26113"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=26107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=26107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=26107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}