The Luna Foundation Guard (LFG) purchased an additional 123.89 bitcoin on Friday worth close to $5 million at the time of settlement. Since mid-March, Terra’s LFG has been acquiring bitcoin on a regular basis and after the purchase on Friday morning, the non-profit organization has approximately 42,530.827 bitcoin.
LFG Acquires Another Batch of Bitcoins for the Project’s Decentralized UST Forex Reserves
Ever since Terraform Labs founder Do Kwon said the Terra project would purchase $3 billion worth of bitcoin for Terra’s decentralized UST forex reserves, LFG has been acquiring quite a bit of BTC. Bitcoin.com News reported on LFG’s last buy when it obtained 2,508 BTC two days ago and the wallet held approximately 42,406.92 BTC after the acquisition.
On Friday, the non-profit organization LFG acquired a much smaller quantity of bitcoin as it deposited 123.89917 BTC worth close to $5 million at 1:55 a.m. (UTC). All of the funds deposited into the LFG address have stemmed from a Binance hot wallet, except for random dust transactions sent to the wallet on a daily basis.
Now LFG’s bitcoin wallet holds 42,530.827 bitcoin worth $1.71 billion at the time of writing. It is currently the 18th largest bitcoin wallet after 69 transactions that started on January 21, 2022.
The purchase of 123.89 BTC follows the creation of the Terraform Labs Global Founder Fellowship. “The aim of the Terra Global Founder Fellowship is to work with top tier early-stage VC firms, accelerator programs, and tech unicorn companies,” the Terraform Labs’ announcement explained on Wednesday.
The Terra Global Founder Fellowship partners include Jump Crypto, Delphi Digital, Outlier Ventures, Long Hash Ventures, SCB10X, Alpha Finance Lab, Ship Capital, Basis Set
