Luna Foundation Guard (LFG), which invests in Bitcoin to support the TerraUSD algorithmic stablecoin, has purchased an additional $100 million in Bitcoin (BTC), bringing its total assets to 42,400 BTC ($1.7 billion).
Terra (LUNA) founder Do Kwon announced on Twitter that LFG has purchased additional Bitcoin. Kwon shared the link to the website with the LFG reserves.
LFG currently has approximately US$2.25 billion in reserves, according to the dashboard tracking reserves There is, 75.5% of this, 1.7 billion dollars, is in Bitcoin. The other 17.7% is in USD coins (USDC), which is equivalent to 398.6 million USD.
Terra announced in February that it will partially support its UST with Bitcoin. Do Kwon said that the foundation aims to buy 10 billion USD worth of Bitcoin.
Some users claim that LFG does not affect prices as it buys Bitcoin through “non-market deals”.
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