Terra Continues Bitcoin Buying Spree, Buys Additional $100M Worth BTC

Terra’s Luna Foundation Guard (LFG) continues its Bitcoin (BTC) buying spree with an additional purchase of $100 million worth of BTC. Terra Scoops Up Additional $100M Worth BTC On Wednesday, Terraform Labs co-founder Do Kwon took to Twitter to announce that the Luna Foundation Guard (LFG) has bought another $100 million worth of Bitcoin. . @LFG_org bought an additional $100M worth of BTC for $UST fx reserves Current balance avail here: https://t.co/UNmWPOq7Vh — Do Kwon 🌕 (@stablekwon) April 13, 2022 In fact, the wallet associated with the Luna Foundation Guard (LFG) confirms that the non-profit added another 2,500 BTC ($100.4 million) to its reserves on Wednesday. This means that Terra now owns 42,400 BTC ($1.704 billion) and is now the 18th largest wallet on the Bitcoin network. The wallet in fact is just 800 BTC less than Tesla’s corporate treasury allocation. As reported by cryptoknowmics, Terra made its previous purchase of $176 million last weekend. Terra’s wallet is set to continue growing as the firm seeks to back the expanding supply of its TerraUSD (UST) stablecoin.The post Terra Continues Bitcoin Buying Spree, Buys Additional $100M Worth BTC first appeared on Cryptoknowmics-Crypto News and Media Platform.The post Terra Continues Bitcoin Buying Spree, Buys Additional $100M Worth BTC appeared first on Cryptoknowmics-Crypto News and Media Platform.