LFG Becomes the Second-Largest Corporate Holder of Bitcoin, Surpassing Tesla

Luna Foundation Guard (LFG), a non-profit organization focused on developing the Terra ecosystem just made its biggest Bitcoin purchase yet of 37,863 BTC worth $1.5 billion at the time of writing. This purchase makes LFG the second-largest corporate holder of bitcoin, surpassing Tesla. LFG Buys Another $1.5B in Bitcoin Luna Foundation Guard (LFG) has reportedly closed a $1.5 billion over-the-counter (OTC) purchase of 37,863 bitcoin, surpassing Tesla as the second-largest corporate holder of Bitcoin (BTC). LFG’s total bitcoin holdings now stand at 80,394, worth nearly $3 billion at the time of writing while Tesla currently holds 43,200 BTC valued at close to $1.7 billion. The purchases were made in the form of two over-the-counter deals, the first being a $1 billion swap of US Terra (UST) for bitcoin (BTC) with crypto prime broker Genesis Global Trading and the second being a $500 million purchase of bitcoin from hedge fund Three Arrows Capital. 2/ The OTC swaps included 1 billion $UST for $1 billion worth of $BTC with Genesis, and the LFG purchased an additional $500 million worth of BTC via 3AC. The acquired BTC brings the LFG’s total holdings to ~80,394 Bitcoins. — LFG | Luna Foundation Guard (@LFG_org) May 5, 2022 $10B in Bitcoin By Q3 Luna Foundation Guard aims to gather up to $10 billion in Bitcoin by the end of the third quarter.to support its algorithmic stablecoin. Luna, the governance token of the Terra blockchain is ...