The Luna Foundation recently announced its acquisition of $100 million worth of BTC on Wednesday and a further $5 million worth of tokens on Friday, 15 April.
At MicroStrategy’s latest buy, LFG bought $5,040 BTC worth $230 million.
According to Do Kwon, Terra’sTerra’s co-founder, the company has $3 billion in funds for the Bitcoin acquisition project for expanding the reserves.
To those yet to know the motive behind Terra’s massive Bitcoin accumulation, the plan is o back the UST token with Layer-1 digital assets, and Bitcoin takes the bulk of the purchase.
The strategy would place the UST as a hybrid stablecoin unique from others, where users could trade a dollar of UST for $0.99 BTC.
Aside from Bitcoin, the LFG has been accumulating Avalanche, where a $200 million worth of the native AVAX was purchased.
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