Terra (LUNA) founder Do Kwon bought Bitcoin for $230 million

$231,400,000 was transferred from the Luna Foundation Guard wallet to the Binance exchange. These funds were used to purchase 5,040 BTC.

Thus, Luna not only continues her recent activities, but also increases the amount of Bitcoins purchased.

Why does Luna Foundation Guard buy BTC?

Terra (LUNA) founder Do Kwon recently announced that he is planning massive BTC purchases to increase the stability of the popular TerraUSD (UST) decentralized stablecoin.

Closer to the top ten

Before the last purchase, the Luna Foundation Guard wallet contained less than 31,000 BTC and was ranked 29th in the list of largest addresses. However, everything changed after Do Kwon tweeted a brief summary of his day from him:

today I watered the flowers, wrote some emails, bought BTC for $230 million, vacuumed the house, ate at McDonald’s. Now I go for walks with my dog.

Today I:

– I watered my plants

– I wrote some emails

– I bought 230 million in $BTC

– Vacuum the house

– I ate some mcdonalds

Now I go out to walk the dog 🤝 «

The purchase of an additional 5,040 Bitcoins caused the Luna Foundation Guard address bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q to jump to 21st place.

Luna Foundation Guard is ahead of Galaxy Digital Holdings

It is worth noting that there is already more BTC in the wallet than is held by Galaxy Digital Holdings (16,402 BTC), which is the third largest publicly traded company that officially buys Bitcoin. Furthermore, Do Kwon announces that the purchases will continue until around $10 billion worth of BTC can be acquired. This means that the foundation address will likely overtake Tesla at some point (48,000 BTC).

For now, however, no portfolio can threaten Michael Saylor’s companies.

What do you think about buying BTC to secure the TerraUSD (UST) stablecoin? Could this affect the price of the most important cryptocurrency or an increased interest in the decentralized stablecoin?

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