It turned out that the Luna Foundation has approximately $ 1.1 billion worth of Bitcoin (BTC) in its reserve addresses.
The cryptocurrency community has been discussing Bitcoin purchases made by LFG last week, as onchain data shows that the Luna Foundation Guard (LPG) Bitcoin wallet holds $24,954.95 Bitcoin worth $1.1 billion. LFG’s Gnosis Safe address has sent 660.6 million Tethers from the foundation’s wallet in the past four days.
Do Kwon Confirms Bitcoin Wallet Is Owned by LFG
On March 26, 2022, Luna Foundation Guard’s Bitcoin wallet is worth $1.1 billion There are 24,954.95 BTC. Over the past four days, the address has accumulated a large number of Bitcoins after Terra founder Do Kwon hinted at the blockchain project that leverages Bitcoin-linked tokenomics.
After asking the founder of Terra why the project decided to choose Bitcoin (BTC) as a reserve asset, Do Kwon replied:
“Bitcoin is the only proven stable reserve asset from digital currencies . It is very difficult for someone in crypto to question Bitcoin.”
After the disclosure, the community noticed the movement originating from a Gnosis Safe address reported to belong to LFG. Terraform Labs founder Do Kwon confirmed via email on Wednesday that the address does indeed belong to LFG.
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