During the last week, the cryptocurrency community has been discussing the bitcoin purchases made by Luna Foundation Guard (LFG), as onchain data shows LFG’s bitcoin wallet currently holds 24,954.95 bitcoin worth $1.1 billion. LFG’s Gnosis safe address shows over the last four days, there’s been 660.6 million tethers sent out of the foundation’s wallet.
Do Kwon Confirms Bitcoin Wallet Belongs to LFG
On March 26, 2022, the Luna Foundation Guard’s bitcoin wallet holds 24,954.95 BTC worth $1.1 billion. During the last four days, the address has accumulated a massive number of bitcoin after Terra’s founder Do Kwon recently hinted at the blockchain project leveraging bitcoin-linked tokenomics. After someone asked Terra’s founder why the project decided to choose bitcoin (BTC) for a reserve asset, Do Kwon replied:
Bitcoin is the only hard reserve asset that’s been proven out of the digital currencies… It is very difficult for somebody in crypto to question bitcoin.
After the statement, the community noticed movement stemming from a Gnosis safe address that is reportedly owned by the LFG. Additionally, the news publication Bitcoin Magazine tweeted about the LFG’s bitcoin address and said the foundation confirmed the address and purchases “to back its UST stablecoin.” Following the statement, on March 25, the news publication further verified the tweet in an article that said: “Terraform Labs founder Do Kwon on Wednesday confirmed via email that the address indeed belongs to LFG.”
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Since then, the LFG bitcoin address continues to accumulate BTC as the last transaction shows it obtained 493 BTC on March
