Luna Foundation Buys 2,508 Bitcoin for $100 Million, Stash Is Only 495 BTC Away From Tesla’s Balance

Luna Foundation Buys 2,508 Bitcoin for $100 Million, Stash Is Only 495 BTC Away From Tesla"s Balance

On April 13, Terra’s Luna Foundation Guard (LFG) acquired 2,508.94 bitcoin worth close to $100 million at the time of settlement. The purchase follows the 4,130 bitcoin LFG scooped up three days ago, and LFG’s wallet is now just over 495 bitcoin away from surpassing Tesla’s bitcoin treasury stash. Luna Foundation Adds More Bitcoin to UST Reserve Wallet

LFG purchased another batch of bitcoin on Wednesday, adding to the non-profit’s bitcoin reserves meant to protect the Terra network’s stablecoin, UST. On April 13, 2022, at 1:55 a.m. (UST), the LFG bitcoin wallet scooped up another 2,508.94 bitcoin after acquiring 4,130 BTC three days ago. The purchase of 2,508.94 BTC was worth $99,914,270 using bitcoin exchange rates at the time of settlement. LFG Bitcoin wallet on April 13, 2022, at 10:30 a.m. (EST).

After obtaining 2,508.94 BTC, the LFG bitcoin wallet now holds 42,406.92 BTC worth an estimated $1.79 billion. LFG’s wallet has seen a total of 68 transactions but has never sent a single satoshi out of the wallet. A myriad of dust transactions has been sent to the LFG wallet on a daily basis.

Currently, according to the bitcoin rich list, the LFG wallet is the 18th largest bitcoin wallet today. A great portion of the wallets above the LFG wallet in the bitcoin rich list are large cryptocurrency exchange cold wallets. For instance, the 15th largest bitcoin wallet today is an Okex exchange cold wallet with 45,820 BTC. LFG Bitcoin Wallet Nears Tesla’s Treasury Stash, Terra’s Wallet Still Below Microstrategy’s and Block.one’s Cache of Bitcoins

The Luna Foundation Guard’s bitcoin wallet is getting awfully close to surpassing Tesla’s stash of 42,902 BTC. In fact, in order to jump above the electric car maker’s bitcoin treasury, LFG needs more than 495.08 BTC. If LFG’s wallet were to surpass the Tesla wallet, the LFG bitcoin reserve address would only be below Microstrategy’s cache of 125,051 BTC in terms of public companies.

In terms of private companies with bitcoin treasuries, LFG’s wallet is below Block.one’s stash of 140,000 bitcoin. Block.one is a blockchain software company that’s dedicated to the EOS network. Another private firm dedicated to a crypto ecosystem with a bitcoin treasury besides Terra and EOS, is the Tezos Foundation, which is focused on the Tezos network. The Tezos Foundation holds 17,500 bitcoin, according to bi-annual filings.

While LFG is hoarding bitcoin to leverage for reserves to protect the stablecoin UST, the organization also announced last week that it would diversify the UST forex reserves with avalanche (AVAX) tokens. LFG partnered with the Avalanche Foundation and explained it would purchase $100 million AVAX via an over-the-counter (OTC) transaction. After LFG’s recent purchase, the price of bitcoin (BTC) jumped over 2% at 10:30 a.m. (EST) on Wednesday, to a high of $40,966 per unit on Bitstamp. Tags in this story $100 million AVAX, $3 Billion, 100 million, Avalanche, Avalanche (AVAX), Avalanche Foundation, Balance, Bitcoin, Bitcoin (BTC), BTC, BTC balance, collateral, crypto assets, do kwon, Emin Gün Sirer, Gnosis safe address, lfg, LFG’s bitcoin wallet, LUNA, Luna Foundation, Luna Foundation bitcoin, luna foundation guard, public companies, reported BTC purchase, Stablecoin, Terra, terra (LUNA), Terra Blockchain, Terra"s Luna Foundation, terraform labs, Tether, UST, UST Stablecoin

What do you think about the Luna Foundation’s growing stash of bitcoins? Let us know what you think about this subject in the comments section below. Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Blockchain.com Inks Sponsorship Deal With the NFL’s Dallas Cowboys NEWS | 7 mins ago Report: Fed’s Secret Repo Loans to Megabanks in 2020 Eclipsed 2008 Bailouts, Data Dump Shows $48 Trillion in Stealth Funding NEWS | 2 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBiggest Movers: WAVES Falls to 1-Month Low, BCH Over 10% Higher on Wednesday Next articleInside LBank’s Bitcoin Miami Exhibition, Sponsorship, and Satellite Event Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItPolygon Announces Zero-Knowledge Identity Platform for Web3

On March 29, Polygon, the layer two (L2) scaling solution that runs parallel with the Ethereum blockchain, has announced a new identity platform called Polygon ID. While the protocol is is still under development, Polygon ID is powered by zero-knowledge ... read more.19 Million Bitcoin Have Been Mined Into Circulation, 2 Million Left to Be Found US Senator Cruz Introduces Bill to Prevent Federal Reserve From Using Digital Currency as Surveillance Tool Indian Government Consulting With IMF, World Bank on Crypto Policy With Over 90% of BTC"s Supply Issued, Bitcoin"s Mining Difficulty Reaches a Lifetime High