Luna Foundation Guard purchased $173 million worth bitcoin over the weekend. However, bitcoin is down 2%.
Luna Foundation Guard (LFG), which is the Treasury that backs TerraUSD algorithmic stabilitycoin, added $173 Million in bitcoin to its wallet this weekend through a series of purchases.
LFG currently has 39,897.98 Bitcoin in its wallet. This is worth approximately $1.67 Billion.
The LFG made several digital asset purchases over the last week: On April 6, it purchased $230 Million of bitcoin and $200 Million in AVAX.
Do Kwon , Terra’s founder, previously stated that the foundation intends to acquire $10 Billion in bitcoin to “open up a new monetary age of the bitcoin standard.”
According to CoinDesk market information, bitcoin’s price has not moved in the news. It’s down about 2% over the past 24 hours to $42,037.
