Terra Adds Another $139 Million BTC To Its Reserve As Bitcoin Whale Transactions Spike


Tomiwabold Olajide

According to reports, Terra has added another 2,943 Bitcoins, or $139 million worth, to its reserve

Bitcoin continues to try to break the $48,300 mark as the Luna Foundation Guard (LFG), a nonprofit organization focused on UST, resumed purchasing the largest cryptocurrency.

According to reports, Terra has added another 2,943 Bitcoins, or $139 million worth, to its reserve. For this, LFG has transferred approximately USD 139 million to: Binance Address 0xf05e2a70346560d3228c7002194bb7c5dc8fe100 as purchase fund.

Terra (LUNA) co-founder Do Kwon provides an indication regarding the transfer to the Binance address by responding to WhaleAlert’s transaction notification with a cryptic tweet.

LFG bought 5,773 BTC this week, worth $272 million. The foundation’s confirmed Bitcoin address revealed that nearly half of this amount had been purchased on Monday. Last week, it acquired about $125 million worth of BTC every weekday.

On-chain analytics firm Santiment reports that Bitcoin experienced the largest four-hour interval of whale transactions in the past 24 hours, the largest since March 1.

It notes that transactions over $100,000 to 3,266 occurred in a four-hour stream as Bitcoin hit $48K. Bitcoin soared to a high of $48,128 on March 29 before retreating to a low of $46,572 before recovering to around $47,231, where it is trading at the time of writing.

More Bitcoin Purchases

MicroStrategy CEO and Bitcoin evangelist Michael Saylor just tweeted that the company’s subsidiary, MacroStrategy, has taken a $205 million loan to acquire Bitcoin. According to the tweet, the loan is also backed in BTC.

The article published by MicroStrategy says the loan was taken from Silvergate Bank, a subsidiary of Silvergate Capital Corporation, a leader in providing innovative cryptocurrency financial infrastructure solutions.

The bank has provided a $205 million loan to MacroStrategy as part of the Silvergate Exchange Network (SEN) Leverage program. The company will use the $205 million to acquire Bitcoin as well as pay fees, interest and all expenses related to this purchase.

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