LUNA Foundation Acquires 2,508 Bitcoin in $100 Million Deal

• Terra’s Luna Foundation Guard (LFG) has acquired 2,508.94 bitcoin for almost $100 million at the time of the purchase

• The buy comes after the foundation scooped up 4,130 BTC only 3 days before

• The LFG bitcoin wallet now holds 42,406.92 BTC, worth an estimated $1.79 billion

Luna Foundation has announced the purchase of another Bitcoin on Wednesday, adding to its already huge reserve.

Data from Blockchair shows that 2,508.94 bitcoin was bought, adding to 4,130 BTC that was purchased three days ago.

The purchase of 2,508.94 BTC was worth $99,914,270, based on the exchange rate of Bitcoin at that time.

Following the latest purchase, the LFG bitcoin wallet now holds 42,406.92 BTC, worth an estimated $1.79 billion.

Since the wallet was opened, a total of 68 transactions have been carried out on it but not a single Satoshi has been sent out.

Read also: Nigerian Crypto Users Hit 33.4 Million Despite CBN Ban

Currently, according to the bitcoin rich list, the Luna Foundation is the 18th largest in the world. It is also just 495 bitcoin away from surpassing Tesla’s bitcoin treasury stash.

If LFG’s wallet manages to surpass Tesla’s, it will be only behind Microstrategy’s stash of 125,051 BTC in the list of public companies’ holdings.

LFG’s bitcoin reserves is meant to protect the Terra network’s stablecoin, UST. The organization also announced last week that it would diversify the UST forex reserves with AVAX tokens, following a partnership with the Avalanche Foundation.

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