Terra’s Luna Foundation Guardfamous technology company MicroStrategyHe continues to follow his path. The company, which continues to increase its Bitcoin reserves, finally $100 million BTC came up with the acquisition.
Terraform Labs co-founder Do Kwonwas at the head of Twitter to announce the acquisition in question.
. @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
Currently cumulative in LFG’s Bitcoin wallet 42,406 BTC worth $1.7 billion exists. As we mentioned in our previous news, Terra made its previous purchase with a purchase of 176 million dollars on Sunday.
3AC and Jump Crypto Investors Made Bitcoin Purchases Easier!
In February, the foundation managed to raise $1 billion through a private sale of the native LUNA token from investors like 3AC and Jump Crypto. This made it possible for the company to build up large Bitcoin-denominated reserves. The company aims to fix the value of its stablecoins to $1 during periods of high volatility, thanks to the Bitcoins it buys.
New Purchase Failed to Provide Expected Acceleration in Bitcoin!
Terra’s large purchases no longer seem to be enough to support the Bitcoin price. The leading cryptocurrency is currently trading around $40,000.
Looking for Ways to Diversify Its Assets
Last week, LFG purchased $100 million worth of Avalanche (AVAX) tokens to expand its investment range. The company seems to expand this range even further with new Bitcoin and altcoin purchases.