Luna Foundation Acquired Over 1.1B Worth of Bitcoin (BTC)

The Luna Foundation reportedly deposited approximately 24,955 BTC for its programmable stablecoin reserves, worth approximately $1.1 billion. The Bitcoin address (bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q) has deposited nearly 24,955 BTC worth more than $1.1 billion. Market suspects it is the address of Luna Foundation, which has raised $2.2 billion for its bitcoin reserves. https://t.co/ex7yM1CWx0 — Wu Blockchain (@WuBlockchain) March 27, 2022 Do Kwon, co-founder and CEO at Terraform Labs is following up on its commitment to accumulate $10 billion worth of Bitcoin (BTC) to add to the project’s stablecoin reserves. With an accumulation worth $1.1 billion, another $8.9 billion BTC purchase will soon be added in the long term. According to data from Bit Info Charts, the wallet address has been accumulating Bitcoin since January, and currently stands at the 33rd richest Bitcoin wallet list. The wallet address is doing 9 transactions per day while a maximum of 29 transactions per week with a total of 42 transactions till now, data from OKLink indicates. Investing in Bitcoin to Ensure UST’S Stability Earlier, Terra posted a proposal on how Luna Foundation Guard can deploy its BTC reserve on-chain in a reserve model which will defend UST amid downward pressure. The foundation recently shared plans to purchase a large amount of BTC at the pace of $125 million per day. While the total volume of purchased funds is ...