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LUNA Foundation Now Holds Over $1.3 Billion Worth Of Bitcoin

In a bid to accumulate $10 billion worth of Bitcoin (BTC), Terra Foundation has added another 2,830 BTC (approx $133.5 million) to its wallet. According to WU Blockchain, OKLink has identified the BTC wallet address of the foundation which now holds over $1.3 billion worth of Bitcoin. The total balance now stands at 27,784.96 BTC. The world’s largest cryptocurrency is trading at $47,179.
LUNA aims to build $10B BTC reserve
Do Kwon, Co-founder and CEO at Terraform Labs, on 14 March, announced that TerraUSD (UST) with $10 billion will rack up bitcoin to serve as their reserves. This will open a new monetary era of the BTC standard, he added. This started the massive Bitcoin accumulation by Luna.
Earlier, Terra posted a proposal built by Jump Crypto on how Luna Foundation Gaurd can deploy its BTC reserve on-chain in a reserve model which will defend UST amid downward pressure.
According to OKLink, the Luna Foundation Guard’s wallet address is doing 9 transactions per day while a maxim

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