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What Luna Does With $500 Million Bitcoin

Luna Foundation Guard (LFG) has purchased over 11,700 BTC price roughly $520 million to date this week to construct a bitcoin reserve to assist its stablecoin, TerraUSD (UST). While many within the Bitcoin group had been fast to level out that the venture is fundamentally different than those built upon on-chain bitcoin, such a major buy of BTC had plain influence on the Bitcoin ecosystem and, fairly presumably, the price.

LFG is a non-profit group based mostly in Singapore that works to cultivate demand for Terra’s stablecoins and “buttress the stability of the UST peg and foster the growth of the Terra ecosystem.”


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