On April 6, onchain data shows the Luna Foundation Guard’s (LFG) bitcoin wallet has added 5,040 bitcoin to its reserves. The added funds were worth roughly $221 million at the time of settlement. LFG managed to purchase the bitcoins while bitcoin lost 3.9% against the U.S. dollar during the last 24 hours.
LFG buys the dip by acquiring an additional 5,040 bitcoins
The team behind the Terra Network (LUNA) and the Singapore-based non-profit organization, the Luna Foundation Guard (LFG), continue to pile on bitcoin. Less than a week ago, Bitcoin.com News reported on LFG’s wallet and explained that it held 30,727.97 BTC.
At the time, the stash was worth more than $1.4 billion using BTC exchange rates from six days ago. For roughly six days, the LFG bitcoin stash didn’t see any additional deposits.
This changed on April 6, when the LFG bitcoin wallet received 2,485 BTC at 6:57 a.m. (UTC) and continued to receive payouts until a total of 5,040 BTC was added. It should be noted that the LFG bitcoin wallet receives dust transactions, as this is a common occurrence with well-known wallets containing significant amounts of bitcoin.
After acquiring the 5,040 BTC, LFG’s wallet now holds 35,767.98 BTC worth $1.58 billion at the time of writing. According to the Bitcoin Rich list hosted on bitinfocharts.com, the LFG wallet, which is flagged as “Luna-LFG,” now holds the 21st largest bitcoin wallet position.
Six days ago, the wallet was the 29th largest wallet. For the LFG bitcoin wallet to exceed Tesla’s bitcoin balance sheet, the wallet needs more than 7,135 BTC. Despite this, LFG’s bitcoin wallet is larger than the BTC hoard of any other publicly traded company except Tesla and Microstrategy.
LFG’s wallet value is currently half of the $3 billion worth of BTC Terra’s founder Do Kwon hinted the project would purchase in March. The project has managed to purchase the BTC while bitcoin’s price dropped 3.9% during the last 24 hours.
The USD value of Bitcoin fell to a low of $43,388 on Wednesday on the Bitstamp exchange. The purchase of 5,040 BTC by LFG also follows the purchase of 4,167 bitcoins by Microstrategy the previous day. The purchase of Microstrategy on Tuesday brought the company’s balance to 129,218 bitcoins.
