Skip to main content

Luna Foundation Buys 2,508 Bitcoin for $100 Million, Stash Is Only 495 BTC Away From Tesla’s Balance

Luna Foundation Buys 2,508 Bitcoin for $100 Million, Stash Is Only 495 BTC Away From Tesla's Balance

On April 13, Terra’s Luna Foundation Guard (LFG) acquired 2,508.94 bitcoin worth close to $100 million at the time of settlement. The purchase follows the 4,130 bitcoin LFG scooped up three days ago, and LFG’s wallet is now just over 495 bitcoin away from surpassing Tesla’s bitcoin treasury stash.

Luna Foundation Adds More Bitcoin to UST Reserve Wallet

LFG purchased another batch of bitcoin on Wednesday, adding to the non-profit’s bitcoin reserves meant to protect the Terra network’s stablecoin, UST. On April 13, 2022, at 1:55 a.m. (UST), the LFG bitcoin wallet scooped up another 2,508.94 bitcoin after acquiring 4,130 BTC three days ago. The purchase of 2,508.94 BTC was worth $99,914,270 using bitcoin exchange rates at the time of settlement.

After obtaining 2,508.94 BTC, the LFG bitcoin wallet now holds 42,406.92 BTC worth an estimated $1.79 billion. LFG’s wallet has seen a total of 68 transactions but has never sent a single satoshi out of the wallet. A myriad of dust transactions has been sent to the LFG wallet on a daily basis.

Currently, according to the bitcoin rich list, the LFG wallet is the 18th largest bitcoin wallet today. A great portion of the wallets above the LFG wallet in the bitcoin rich list are large cryptocurrency exchange cold wallets. For instance, the 15th largest bitcoin wallet today is an Okex exchange cold wallet with 45,820 BTC.

LFG Bitcoin Wallet Nears Tesla’s Treasury Stash, Terra’s Wallet Still Below Microstrategy’s and Block.one’s Cache of Bitcoins

The Luna Foundation Guard’s bitcoin wallet is getting awfully close to surpassing Tesla’s stash of 42,902 BTC. In fact, in order to jump above the electric car maker’s bitcoin treasury, LFG needs more than 495.08 BTC. If LFG’s wallet were to surpass the Tesla wallet, the LFG bitcoin reserve address would only be below Microstrategy’s cache of 125,051 BTC in terms of public companies.

In terms of private companies with bitcoin treasuries, LFG’s wallet is below Block.one’s stash of 140,000 bitcoin. Block.one is a blockchain software company that’s dedicated to the EOS network. Another private firm dedicated to a crypto ecosystem with a bitcoin treasury besides Terra and EOS, is the Tezos Foundation, which is focused on the Tezos network. The Tezos Foundation holds 17,500 bitcoin, according to bi-annual filings.

While LFG is hoarding bitcoin to leverage for reserves to protect the stablecoin UST, the organization also announced last week that it would diversify the UST forex reserves with avalanche (AVAX) tokens. LFG partnered with the Avalanche Foundation and explained it would purchase $100 million AVAX via an over-the-counter (OTC) transaction. After LFG’s recent purchase, the price of bitcoin (BTC) jumped over 2% at 10:30 a.m. (EST) on Wednesday, to a high of $40,966 per unit on Bitstamp.

What do you think about the Luna Foundation’s growing stash of bitcoins? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/j9oKnGL
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more