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Jafrin Ahmed
Apr 11, 2022
by Jafrin Ahmed

Terra’s Luna Foundation Buys Another $176M Worth Bitcoin

Terra’s Luna Bitcoin
Terra’s Luna Foundation Guard (LFG) buys another $176 million worth of Bitcoin (BTC). At the time of writing, the LFG is the nineteenth largest BTC holder, with 39,898 BTC, worth approximately $1.67 billion.

Luna Foundation Scoops Up Fresh 4,140 BTC

Terra’s Luna Foundation Guard (LFG) has added another batch of Bitcoin to its holdings over 4,000 BTC, to be precise, which is worth some $176 million. The purchase was made at an average price of around $42,590.

According to data from, on-chain, the LFG transferred 4,130 BTC in a series of four transactions. The firm now holds 39,897.98 BTC worth $1.7 billion at current prices.

Luna Foundation has been on a Bitcoin buying spree over the past few weeks with the goal of building reserves to convert its algorithmic stablecoin Terra USD into one that is backed by Bitcoin. During the past week alone, the LFG purchased $230 million of bitcoin on April 6 and $200 million in AVAX on April 8.

Vision to Acquire Bitcoin Worth $10B

Do Kwon, the co-Founder, and CEO at Terraform Labs, the company behind the Terra protocol, revealed at the time that they intend to buy a total of $10 billion worth of BTC. However, later on, he said that they intend to keep buying once the initial $10 billion has been deployed.

At the time of writing, Bitcoin’s (BTC) price is trading at around $42,199 down 1.2% over the past 24 hours.

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Terra’s Luna Foundation Buys Another $176M Worth Bitcoin
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.