Terra (Luna) Luna Foundation Guard (LFG), a Singapore-based non-profit organization founded to support the ecosystem of Bitcoin (BTC) added more.
Terra’s Amount of Bitcoin Reached 1.7 Billion Dollars
With its latest purchase, LFG currently holds $1.7 billion in cryptocurrencies in its wallet.
In the ecosystem of these BTCs purchased by Terra, TOP It was announced that it will be used to support the stablecoin.
The company aims to maintain the stability of its stablecoins to $1 in times of high volatility, thanks to the Bitcoins it buys.
The company has a total of 39,897 BTC with the last purchase.
However, we see that the last BTCs purchased by the altcoin do not have much effect on the price.
The world’s largest crypto currency is trading at $ 43,175 at the time of writing, with an increase of 1.61% in the last 24 hours.
LFG’s moves to buy BTC came after the company sold $1 billion in LUNA tokens at the end of February. LFG aims to use BTC as the reserve currency for its UST stablecoin.
Terra founder Do Won, in a previous tweet, announced that the company aims to become the company with the most BTC in the world after Satoshi Nakamoto, by buying a total of 10 billion dollars in Bitcoin.
As we previously reported, LFG also recently reported $100 million Avalanche (AVAX) He bought the token and showed that he will not be limited to BTC in fixing his stablecoin to 1 dollar.
*Not investment advice.