.jpg "According to a report published on Thursday Luna Foundation GuardThe Luna Foundation Guard (LFG) stated that it got 37,863 bitcoins valued over 1.4 million dollars. (LFG) explained that it received 37,863 bitcoins worth more than 1.4")
According to a report published on Thursday
Luna Foundation GuardThe Luna Foundation Guard (LFG) stated that it got 37,863 bitcoins valued over 1.4 million dollars. (LFG) explained that it received 37,863 bitcoins worth more than 1.4
$1 billion through two offshore deals. LFG now has 80,394 bitcoins in its reserves which currently stand at just under $3 billion using today's exchange rates.
Luna Foundation Guard shovels 37,863 bitcoin
on May 5, 2022, Luna Foundation Guard reported that it had purchased 37,863 bitcoin (BTC), worth more than $1.4 billion at the time of writing. LFG, a Singapore-based nonprofit, aims to have $10 billion in stable currency reserves by the end of the third quarter of this year.
- While the organization received a total of 80,394 bitcoins
- LFG also bought $100 million of Avalanche (AVAX) to boost the UST's decentralized foreign exchange reserves.
- While 42530.828 BTC can be seen on blockchain via LFG's public address, 37,863 bitcoins purchased through two offshore deals (OTC) have been acquired.
According to LFG's press release
- $1 billion of ground tanks traded with BTC's principal broker Genesis
- and bought another $500 million from the hedge fund Three Arrows Capital.
- The founder of Terraform Labs says that UST's decentralized currency reserve inventory is compatible with the bitcoin standard.
Terraform Labs co-founder and CEO Du Kwon told CNBC during the announcement that the tied currency reserves are in line with the bitcoin standard.
For the first time, I saw a tethered currency striving to conform to the bitcoin norm, Kwon added.
Added founder of Terraform Labs
"It makes a strong trend bet that holding much of these foreign reserves in the form of a digital original currency would be a winning recipe."
The press release further indicates that LFG's purchase was worth $1.5 billion, but today its value has fallen to $1.4 billion from BTC.
LFG's current Bitcoin portfolio now has more than Tesla's Bitcoin reserves
which is about 42,902 Bitcoin, according to U.S. Securities and Exchange Commission (SEC) filings.
With 80394 bitcoin, the LFG cache is only 48824 BTC away from catching up with Microsoft's 129.218 BTC. Meanwhile, Bitcoin (BTC) slumped to a low of $36,520 on Thursday, and the leading cryptocurrency asset fell 5% in the past 24 hours.
""I believe it's significant in the sense that we are now living in a time when there is surplus money printed across the board and when monetary policies [are] very politicised," Kwon said on Thursday. and there are citizens who are self-regulating to try to get systems back into a safer form of money."