Luna Foundation Guard increased investments in bitcoin to $1,6 billion

The organization conducted transactions for the purchase of 3964 BTC

06.04.2022 - 13:40

1 min

What’s new? The Luna Foundation Guard (LFG), a non-profit organization, bought 3964 bitcoins worth $177,7 million at the exchange rate on April 6. There were two transactions of 2485 BTC and 1479 BTC. This is indicated by the data from the GetBlock explorer. As of April 6, LFG holds 35 767 BTC worth $1,6 billion in reserves.

Information on GetBlock

What preceded it? On March 28, LFG bought $1 billion worth of bitcoins as part of an increase in the sustainability of the UST algorithmic stablecoin. On March 30, the Luna Foundation Guard added 2943 bitcoins.

What is known about LFG? It is a non-profit organization that was launched in January 2022 to develop the Terra ecosystem and increase the sustainability of algorithmic stablecoins of the blockchain.

Earlier, the Terra blockchain co-founder Do Kwon explained the choice of bitcoin as a reserve. He stated that he will continue to buy BTC to support UST’s stability.

Author: