The Luna Foundation Guard (LFG) held 24,954.95 bitcoins as of March 26, and 5,773.02 bitcoins were deposited into LFG’s bitcoin wallet during the past five days. At the time of writing, LFG’s wallet holds 30,727.97 bitcoins worth over $1.4 billion using today’s exchange rates. In a relatively short period of time, LFG’s bitcoin wallet has been available with some of the largest cryptocurrencies on record.
LFG Wallet deposits 5,773 bitcoins in 5 days
During the past two weeks, the Luna Foundation Guard (LFG) has been on a bitcoin buying spree to deposit bitcoin (BTC) for the organization’s reserve pool. LFG is a non-profit based out of Singapore dedicated to the Terra (LUNA) ecosystem and aims to advance “the stability and sustainability of Terra’s algorithmic stablecoins”.
On March 21, Bitcoin.com news reported about the founder of Terra. do kwon Signal to buy $3 billion in BTC. Following that report, LFG’s first purchase was caught by OnChain observers and after that purchase, LFG confirmed that the organization owned a bitcoin address discovered by Blockchain spies.
Five days earlier, bitcoin.com news reported LFG had received 24,954.95 BTC, up $1.1 billion using bitcoin exchange rates on March 26. Since then, LFG has gained 5,773.02 more bitcoins (BTC) during the five-day period.
The wallet’s bitcoin holdings have increased by 23.13% since March 26 and are now addressable at 30,727.97 BTC, worth $1.4 billion. The address has steadily climbed up the ladder in terms of the bitcoin-rich list of addresses holding the most bitcoins. At the time of writing, LFG’s wallet is today the 29th largest bitcoin wallet among the top 100 BTC addresses with the most coins.
LFG Wallet Holds Some of the Biggest Bitcoin Treasuries
Additionally, in addition to raising the ranks for one of the largest BTC wallets, LFG’s reserves are also as large as some of the largest bitcoin treasuries today. The Bitcoin Treasury listing shows that LFG’s wallet is larger than most exchange-traded funds except the top three. LFG’s bitcoin wallet holds more money than the Salvadoran government.
Apart from Block.one, LFG’s wallet will be bigger than all the wallets of private companies. Furthermore, apart from Microstrategy and Tesla, LFG’s bitcoin wallet is larger than the long list of public firms that have BTC on their balance sheets. Furthermore, Tesla has 42,902 BTC on the electric car company’s balance sheet, and LFG only has to buy a touch more than 12,174.03 BTC to surpass Tesla’s BTC holdings.
What do you think about accumulating large amounts of bitcoins in Luna Foundation Guard’s bitcoin wallet? Let us know what you think about this topic in the comment section below.
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