Terra’s LFG Pool Adds $170 Million Worth of Bitcoin at $42,600

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The Luna Foundation Guard (LFG) pool has bought Bitcoin yet again. The pool currently holds almost 40,000 BTC, worth some $1.675 billion at the time of this writing.

  • 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 was made at an average price of around $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.
  • Later on, however, he said that they intend to keep buying once the initial $10B has been deployed.
  • 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 paints a 10% decline in the last week, dragging the broader market with it as the total capitalization is plunging toward $2 trillion.

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