The Luna Foundation Guard pool (LFG), has purchased Bitcoin again. The pool currently holds nearly 40,000 BTC. It is worth $1.675 million at the time this article was written.
Luna’s LFG pool has added another batch of Bitcoin to its stash – over 4,000 BTC, to be precise, which is worth some $176 million at the time of this writing.
The purchase cost an average of $42,590.
With this, Terra’s total BTC holdings currently stand at 39,897 and are worth roughly $1,675 billion.
As CryptoPotato reported earlier, Terra started buying BTC back in march as parts of increasing its reserves for their algorithmic stablecoin – UST.
Do Kwon, Co-Founder, and CEO at Terraform Labs – the company building the Terra protocol and ecosystem – revealed back at the time that they intend to buy a total of $10 billion worth of BTC.
He stated that they plan to continue buying after the initial $10B is spent.
At the time of this writing, bitcoin’s price is trading at around $42,000 – down 2.1% over the past 24 hours.
The cryptocurrency has seen a 10% drop in value over the past week. This is dragging down the wider market as total capitalization plummets to $2 trillion.