Onchain Data Shows Terra’s Luna Foundation Continues to Stack Bitcoin– Bitcoin News


This week there’s been a great deal of discuss Terra’s Luna Foundation acquiring bitcoin to keep in its reserves swimming pool. Onchain information reveals the company’s wallet has actually moved a minimum of 3 tranches of tether worth $125 million each. Furthermore, reports reveal that the Luna Foundation has actually validated the current bitcoin purchases.

Onchain Data Indicates Terra’s Luna Foundation Has Sent 3 Tranches of Tether to Purchase Bitcoin, Foundation Confirms Bitcoin Address

Two days back,Bitcoin com News reported on Terra’s creator Do Kwon going over how he eagerly anticipates developing with bitcoin. In the report, accounts and onchain information revealed that $125 million in tether ( USDT) was moved from a wallet that supposedly comes from Terra’s Luna Foundation.

The wallet is a Gnosis safe address and it holds $1.39 billion in ERC20-based stablecoins like tether ( USDT) and usd coin (USDC). After the very first transfer of $125 million in tether 2 days back, there’s been 2 more deals of the exact same quantity. On March 23, $125 million in tether was moved and after that the following day $124.9 million in USDT was moved.

While speculation over the purchases has actually been distributing extremely on social networks and online forums, Bitcoin Magazine’s authorities Twitter account tweeted on March 23: “Luna Foundation confirms 6,000 bitcoin purchase worth $250 million to back its UST stablecoin.”

Onchain Data Shows Terra's Luna Foundation Continues To Stack Bitcoin
Tweet from Bitcoin Magazine on March 23, 2022, that keeps in mind the Luna Foundation has actually validated the bitcoin reserve wallet address.

Additionally, the Twitter account left a

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