Advertisement
Terra's wallet added $139 million worth of Bitcoin, bringing the total account to 31,000 BTC or $1.47 billion.
Watch out for Michael Saylor! Do Kwon, CEO of Terraform Labs, closely monitors the actions of MicroStrategy's CEO. Along with another huge deal, LFG's Terra wallet (Luna Foundation Guard) has now accumulated nearly $1.5 billion worth of Bitcoin (BTC).
Terra's alleged wallet address (while not officially confirmed) received an additional 2,943,0002511 BTC ($139 million) last Wednesday.The wallet address began collecting Bitcoin in bulk starting January 21 and has yet to sell a single BTC.
According to the chart, after the first 10,000 BTC purchase on January 21, the wallet began adding more on March 22. "Bitcoin and $10 billion worth of UST (Terra USD) in reserves will set the Bitcoin standard of the new currency era." Accordingly, the value of the UST will be tied to the DOLLAR and the value of these "dollars" will be supported by the Bitcoin Reserve Fund. LFG is where Terra (LUNA) will be involved in the creation of stablecoins.
As a result, Kwon went further and faster, surpassing even the biggest Bitcoin players. According to BitcoinTreasaries, with a target of MicroStrategy, Terraform Labs will soon overtake Tesla as the second largest holder of Bitcoin.
Looking at the lackluster move in price over the past 72 hours, it seems that Terra's trading is driving the Bitcoin market, LUNA Token is reaching a new peak ($107/ coin updated April 1, 2022).
