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Luna Foundation Guard (LFG) Has Not Added Any Bitcoin (BTC) In Over Five Days 

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The LFG Bitcoin buying spree has halted in the last five days. 



Blockchain data from Glassnode, a crypto data analytics platform, shows that Luna Foundation Guard (LFG), a nonprofit organization focusing on the Terra blockchain, has not added any Bitcoin (BTC) to its reserves in the last five days. 

 

While it is not clear why LFG has not made any BTC purchases in the last five days, the foundation has added a massive amount of BTC within the past few weeks as it ventured into the business of Bitcoin accumulation. 

LFG Bitcoin Buying Skyrockets

IN FEBRUARY, the LFG, which embarked on a Bitcoin purchase spree, has accumulated a whopping 30,727.97 BTC valued at $1.41 billion. 

Recall that the cryptocurrency community was excited after The LUNA Foundation Guard (LFG) disclosed that it would purchase $10 billion worth of bitcoin (BTC) that will be used as a reserve for the terra USD (UST) stablecoin. 

Since the announcement, LFG has kept its promise, occasionally adding the world’s largest cryptocurrency by market capitalization. 

The nonprofit organization has embarked on several fundraising initiatives to source funds that will be used to accumulate more BTC. 

At the moment, the LFG Bitcoin address holds 30,727 billion worth approximately $1.42 billion at press time. 

More BTC Needs to be Purchased

With the nonprofit organization committed to buying $10 billion worth of Bitcoin to use as a reserve for the UST stablecoin, LFG still has many Bitcoin purchases to do, which are worth more than $8 billion.  

At the current market price of $46,161, LFG still needs to accumulate at least 185,871 BTCs to complete its proposed $10 billion worth of BTC pledge. 

As long as the funds are available, purchasing the cryptocurrency will not be a problem because the Bitcoin market completes at least $20 billion of BTC trading volume daily. 

LFG Bitcoin Positioning

Terra (Luna) is currently taking the 3rd spot in bitcoin holding, behind Microstrategy and Tesla.

1. MicroStrategy – 125,051 BTC

2. Tesla – 43,200 BTC

3. Terra – 30,727 BTC

4. Marathon Digital – 8,133 BTC

5. Square – 8,027 BTC

 

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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