Luna Foundation’s Bitcoin Reserve Wallet Now Has $1.1 Billion in BTC – Bitcoin News

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For the past week, the cryptocurrency community has been discussing the bitcoin purchases made by Luna Foundation Guard (LFG) as onchain data shows that LFG’s bitcoin wallet is currently worth 24,954.95 bitcoin worth $1.1 billion. contains. LFG’s secure Gnosis address shows that 660.6 million tethers have been sent from the foundation’s wallet in the past four days.

Do Kwon Confirms Bitcoin Wallet Belongs To LFG

On March 26, 2022, the Luna Foundation Guard’s bitcoin wallet contains 24,954.95 BTC worth $1.1 billion. Over the last four days, the address has accumulated a huge amount of bitcoin after Terra’s founder Do Kwon recently hinted at the blockchain project that uses bitcoin-linked tokenomics. After someone asked Terra’s founder why the project decided to choose bitcoin (BTC) as its reserve asset, Do Kwon replied:

Bitcoin is the only hard reserve asset that has been proven to be out of the digital currencies… It is very hard for anyone in crypto to question bitcoin.

Following the statement, the community noted movement emanating from a Gnosis-secure address allegedly owned by the LFG. In addition, the news publication Bitcoin Magazine tweeted about the LFG’s bitcoin address, saying the foundation has confirmed the address and purchases “in support of its UST stablecoin.” Following the statement, on March 25, the news outlet further verified the tweet in an article that read, “Terraform Labs founder Do Kwon confirmed via email on Wednesday that the address does indeed belong to LFG.”

On March 26, 2022, at 1:00 PM (ET), LFG’s bitcoin wallet has 24,954.95 bitcoin worth more than $1.1 billion.

3AC Co-Founder Says ‘Buying $125 Million a Day of Bitcoin for Three Months is a Lot’

Since then, the LFG bitcoin address continues to accumulate BTC as the latest transaction shows that it acquired 493 BTC on March 26 at 5:18 am (UTC). It contains 24,954.95 bitcoin worth $1.1 billion and the address has never sent a single satoshi from the wallet. The Gnosis secure address has sent four USDT transactions worth about $125 million and the last tethered transmission was for 160,750,000 USDT.

The bitcoin address BTC sent to the LFG bitcoin address has been marked as a “Binance hot wallet,” according to oxt.me data and bitquery.io’s money flow statistics. All BTC entries in the LFG bitcoin address are derived from the highlighted Binance hot wallet. As for Gnosis’s safe haven, there is still enough money in the wallet to continue buying BTC on a daily basis.

Currently, Gnosis’ safe address holds $715.2 million in tether (USDT) and $398.23 million in USD coins (USDC). The shopping spree has further sparked a lot of discussion within the crypto community. “I can see some of you have never performed size before,” tweeted Kyle Davies, the co-founder and chairman of Three Arrows Capital (3AC). “Let me tell you you buy $125 million a day.” [bitcoin] for 3 months is a lot.”

Tags in this story

$1.1 million in BTC, $125 million, $125 million in tether, $3 billion, Binance hot wallet, Bitcoin, Blockchair explorer, Blockchair’s Privacy-o-meter, BTC, BTC Reserves, collateral, do kwon, Gnosis safe address, Kyle Davies, lfg , LUNA, luna foundation guard, oxt.me data, reported BTC purchase, Terra, terra (LUNA), Terra’s Luna Foundation, terraform labs, Tether, UST

What do you think of the LFG’s stack of bitcoin reserves? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news leader at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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