Terra’s Luna Foundation Guard pool buys $170 million worth of Bitcoin at $42,600
The Luna Foundation Guard (LFG) pool has bought Bitcoin yet again. The pool currently holds almost 40,000 BTC, worth $1,675 billion.
Luna LFG pool has added another batch of Bitcoin to its stash over 4,000 BTC, to be precise, which is worth $176 million
Terra's total BTC holding is 39,897 and worth approx $1,675 billion.
Terra started buying BTC back in march as part of increasing its reserves for its algorithmic stable coin.
The company building the Terra protocol and ecosystem revealed back at the time they intend to buy a total of $10 billion worth of BTC.
Also said that they intend to keep buying once the initial $10B has been deployed.
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 towards $2 trillion.