Luna Foundation Guard becomes top 10 largest bitcoin holder after latest buy

The Luna Foundation Guard has become the top 10 largest bitcoin (BTC-USD) holder after it bought an additional 37,863 BTC ($1.5B) in an effort to further strengthen its stablecoin TerraUSD (UST-USD) reserves, according to a Twitter post Thursday. Note that stablecoins are digital tokens that are pegged to the value of a more "stable" asset, such as the U.S. dollar. Regarding its most recent transaction, the LFG made purchases in the form of two over-the-counter deals, including $1B TerraUSD (UST-USD) for $1B of bitcoin (BTC-USD) with cryptocurrency prime broker Genesis Global Trading. It also acquired $500M of BTC from hedge fund Three Arrows Capital, the tweet read. The foundations' latest bitcoin (BTC-USD) brings it another step closer to achieving its goal of accumulating $10B of stablecoin reserves by the end of Q3. In turn, the reserve now holds a total of roughly $3.5B in bitcoin (BTC-USD), or 80,394 coins, making it