Terra Reserves rise to 35,767 Bitcoins after the Luna Foundation purchases 5,040 BTC.
The Luna Foundation Guard's (LFG) bitcoin wallet added 5,040 bitcoin to its balances on April 6, according to onchain statistics.
At the time of the settlement, the additional monies were worth about $221 million. LFG was able to purchase bitcoins despite the fact that bitcoin had lost 3.9 percent versus the US dollar in the previous 24 hours.
The Terra (LUNA) network and the Luna Foundation Guard (LFG), a Singapore-based non-profit, continue to accumulate bitcoin. Bitcoin.com News reported on LFG's wallet less than a week ago, stating that it contained 30,727.97 BTC.
The stash was valued at almost $1.4 billion at the time using BTC exchange rates from six days ago. There were no new bitcoin deposits for almost six days in the LFG bitcoin stash.
The LFG bitcoin wallet received 2,485 BTC at 6:57 a.m. (UTC) on April 6 and continued to receive payments until a total of 5,040 BTC was added. It's worth noting that dust transactions are routed to LFG's bitcoin wallet, as this is a regular occurrence with well-known wallets holding large sums of bitcoin.
LFG's wallet currently owns 35,767.98 BTC worth $1.58 billion after obtaining the 5,040 BTC. The LFG wallet, which is flagged as "Luna-LFG," now occupies the 21st largest bitcoin wallet position, according to the Bitcoin Rich list maintained on bitinfocharts.com.
The wallet was the 29th largest wallet six days ago. The LFG bitcoin wallet requires more than 7,135 bitcoins to beat Tesla's bitcoin balance sheet. Despite this, save for Tesla and Microstrategy, LFG's bitcoin wallet is greater than every other publicly-traded company's BTC treasury.
LFG's wallet is currently worth half of the $3 billion in BTC. Do Kwon, Terra's creator, speculated that the project might be purchased in March. Despite bitcoin's price dropping 3.9 percent in the last 24 hours, the initiative was able to purchase BTC.
On the Bitstamp platform, Bitcoin's USD value fell to a low of $43,388 on Wednesday. LFG's purchase of 5,040 BTC comes on the heels of Microstrategy's 4,167 BTC buy the day before. Microstrategy's purchase on Tuesday increased the company's bitcoin balance to 129,218.