The Luna Foundation (LFG), which invests in Bitcoin to support the TerraUSD algorithmic stablecoin, made new purchases and expanded its wallet over the weekend. The foundation bought $ 173 million in Bicoins and brought the number of BTC in its hands almost 40,000.
Luna, the foundation behind Terra, which has come to the fore with its Bitcoin purchases recently, added new BTCs to its wallets this weekend. The foundation, which CEO Do Kwon said, "We want to have the most Bitcoin after Satoshi's wallets," made some moves over the weekend and increased the number of Bitcoins to 39,897 with a total of $ 173 million in Bitcoin purchases.
Against an unexpected drop in UST…
As the reason why the Luna Foundation recently bought Bitcoin, Kwon cited his view of the largest cryptocurrency as a safe haven and his plan to sell the purchased Bitcoins and transfer the funds to UST in case of an unexpected drop in the UST stablecoin. The LUNA Foundation aims to keep $10 billion worth of Bitcoin in their wallets in the long term.
He was surprised with his AVAX move
The foundation, which bought $ 230 million worth of Bitcoin last week, added 200 million AVAX with a surprise move. Terra Luna's cryptocurrency, Terra, was traded at $87 at the time of writing, while the market value of UST was approximately $16 billion.
As it will be remembered, CEO Do Kwon had a price claim on Twitter with a person who made a "fraud" comment for Terra in the past weeks. If the price is above $90 in March next year, Do kwon will also have earned a share of the $2 million claim sent to a famous podcaster's Metamask wallet. If it were the other way around, he would have lost $1 million out of pocket.
On the other hand, Terra's recent serious purchases were not enough to raise the price of Bitcoin. The biggest crypto money once again falls below $42 thousand at night, while it is traded at $ 42 thousand 200 at the time of writing.