Luna Foundation Acquires An Additional 37.8 k Bitcoin Worth $1.5 B, Bringing its Total Holdings to 80,394 BTC

Summary: The Luna Foundation Guard has acquired an extra 37,863 Bitcoin worth$ 1.5 billion The purchase remains in line with Do Kwon’s objective of support UST with electronic asset gets worth$10 billion

The Luna Foundation Guard now holds 80,394 BTC The Luna Foundation Guard has actually gotten an extra 37,863 Bitcoin worth$1.5 billion to additionally back its popular stablecoin of UST. The current acquisition of Bitcoin was performed in 2 transactions:$1 billion with Genesis Trading as well as$500 million worth of Bitcoin through 3 Arrows Capital(3AC).

With this acquisition, the Luna Foundation Guard now holds 80,394 Bitcoin worth an estimated$3.2 billion at the time of creating. 2/ The OTC swaps consisted of 1 billion$UST for $1 billion worth of$BTC with Genesis, and the LFG acquired an added $500 million worth of BTC using 3AC. The acquired BTC brings the LFG’s overall holdings to ~ 80,394 Bitcoins.

LFG Luna Foundation Guard( @LFG_org )May 5, 2022 UST is Attempting to Observe the Bitcoin Standard – Do Kwon The recent acquisition of$1.5 billion well worth of Bitcoin remains in line with the vision of Terra’s creator, Do Kwon, of backing TerraUSD(UST) with$10 billion worth of BTC and various other electronic assets. Mr. Kwon even more ‘clarified his vision to CNBC by stating ‘ For the first time, you’re starting to see a pegged currency that is attempting to observe the bitcoin requirement. It’s making a strong directional bet that keeping a lot of those foreign books in the form of a digital indigenous money is going to be a winning dish.’

Luna Foundation Acquires An Additional 37.8k Bitcoin Worth $1.5B, Bringing its Total Holdings to 80,394 BTC 4

He additionally added that time is the only component entrusted to examine out the TerraUSD (UST) project. In addition, the stablecoin job is particularly vital offered ‘‘ that we live in a time where there’s excess cash printing throughout the board and also when monetary plans very politicized that there are people that are self-organizing to attempt to bring systems back to a sounder standard of cash.’

TerraUSD (UST) Makes an Entry right into Coinmarketcap’s Top 10

At the time of creating, TerraUSD (UST) is ranked tenth on Coinmarketcap with a market capitalization of $18.683 billion. UST is additionally now additionally ranked third in the stablecoin category after Tether ($83.154 billion) and USDC ($48.7 billion). It has additionally eclipsed Binance USD (BUSD) which has a market capitalization of $17.8 billion.

Luna Foundation Acquires An Additional 37.8k Bitcoin Worth $1.5B, Bringing its Total Holdings to 80,394 BTC 2

UST now ranked 10th on Coinmarketcap

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