The non-profit Luna Foundation Guard (LFG) has added to its holdings by purchasing 4,129 BTC for $176 million. This was reported by Anthony Pompliano, co-founder of venture firm Morgan Creek Digital.
Terra bought another $176 million of bitcoin this morning.
— Pomp 🌪 (@APompliano) April 10, 2022
The average price per coin was around $42,600, according to this blockchain explorer. The aggregate balance of LFG approached 40,000 BTC ($1.66 billion at the time of writing).
On March 23, Jump Crypto, which previously led the LFG token sale of LUNA for $1 billion, presented to the community a proposal to create a reserve Bitcoin fund to underpin UST’s peg to the US dollar.
On March 27, LFG invested in the first cryptocurrency worth more than $1 billion. In the days that followed, the organisation continued to buy.
In April, LFG announced the purchase of AVAX tokens from the Avalanche project for $100 million to expand reserves and bolster UST’s resilience.
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