{"id":57161,"date":"2022-05-05T19:04:28","date_gmt":"2022-05-05T18:04:28","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=57161"},"modified":"2022-05-05T19:04:31","modified_gmt":"2022-05-05T18:04:31","slug":"luna-foundation-acquires-37-8k-bitcoin-worth-1-5b-total-holdings-80394-btc","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/luna-foundation-acquires-37-8k-bitcoin-worth-1-5b-total-holdings-80394-btc\/","title":{"rendered":"Luna Foundation Acquires An Additional 37.8k Bitcoin Worth $1.5B, Bringing its Total Holdings to 80,394 BTC"},"content":{"rendered":"\n<p>Summary:<\/p>\n\n\n\n<ul><li>The Luna Foundation Guard has bought an additional 37,863 Bitcoin worth $1.5 billion<\/li><li>The purchase is in line with Do Kwon&#8217;s goal of backing UST with digital asset reserves worth $10 billion <\/li><li>The Luna Foundation Guard now holds 80,394 BTC<\/li><\/ul>\n\n\n\n<p>The Luna Foundation Guard has acquired an additional 37,863 Bitcoin worth $1.5 billion to further back its popular stablecoin of UST. <\/p>\n\n\n\n<p>The recent purchase of Bitcoin was carried out in two transactions: $1 billion with Genesis Trading and $500 million worth of <a href=\"https:\/\/en.ethereumworldnews.com\/luna-buys-4130-bitcoin-total-39897-btc\/\" target=\"_blank\" rel=\"noreferrer noopener\">Bitcoin<\/a> through 3 Arrows Capital (3AC). With this purchase, the Luna Foundation Guard now holds 80,394 Bitcoin worth an estimated $3.2 billion at the time of writing. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">2\/ The OTC swaps included 1 billion <a href=\"https:\/\/twitter.com\/search?q=%24UST&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">$UST<\/a> for $1 billion worth of <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">$BTC<\/a> with Genesis, and the LFG purchased an additional $500 million worth of BTC via 3AC.<br><br>The acquired BTC brings the LFG\u2019s total holdings to ~80,394 Bitcoins.<\/p>&mdash; LFG | Luna Foundation Guard (@LFG_org) <a href=\"https:\/\/twitter.com\/LFG_org\/status\/1522234949364973568?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">May 5, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">UST is Attempting to Observe the Bitcoin Standard &#8211; Do Kwon<\/h2>\n\n\n\n<p>The recent purchase of $1.5 billion worth of Bitcoin is in line with the vision of Terra&#8217;s founder, Do Kwon, of backing TerraUSD (UST) with $10 billion worth of BTC and other digital assets. <\/p>\n\n\n\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/ust-wins-when-more-blockchains-issue-their-own-stablecoins-terras-do-kwon-on-trons-usdd\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mr. Kwon<\/a> further elaborated his vision <a href=\"https:\/\/www.cnbc.com\/2022\/05\/05\/luna-foundation-guard-bolsters-stablecoin-reserve-by-raising-1point5-billion-in-bitcoin.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">to CNBC<\/a> by stating &#8216;For the first time, you\u2019re starting to see a pegged currency that is attempting to observe the bitcoin standard. It\u2019s making a strong directional bet that keeping a lot of those foreign reserves in the form of a digital native currency is going to be a winning recipe.&#8217;<\/p>\n\n\n\n<p>He also added that time is the only element left to test out the TerraUSD (UST) project. Additionally, the stablecoin project is particularly important given &#8216;that we live in a time where there\u2019s excess money printing across the board and when monetary policies highly politicized that there are citizens that are self-organizing to try to bring systems back to a sounder paradigm of money.&#8217;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">TerraUSD (UST) Makes an Entry into Coinmarketcap&#8217;s Top 10<\/h2>\n\n\n\n<p>At the time of writing, TerraUSD (UST) is ranked tenth on Coinmarketcap with a market capitalization of $18.683 billion. UST is also now also ranked third in the stablecoin category after Tether ($83.154 billion) and USDC ($48.7 billion). It has also <a href=\"https:\/\/en.ethereumworldnews.com\/terras-ust-climbs-into-top-3-stablecoins-above-busd\/\" target=\"_blank\" rel=\"noreferrer noopener\">eclipsed Binance USD<\/a> (BUSD) which has a market capitalization of $17.8 billion.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/UST-top-10.jpg\" alt=\"\" class=\"wp-image-57163\" width=\"790\" height=\"238\" title=\"\" srcset=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/UST-top-10.jpg 1017w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/UST-top-10-770x232.jpg 770w\" sizes=\"(max-width: 790px) 100vw, 790px\" \/><figcaption>UST now ranked 10th on Coinmarketcap<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1319\" height=\"369\" src=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Top-4-stablecoins.jpg\" alt=\"\" class=\"wp-image-57164\" title=\"\" srcset=\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Top-4-stablecoins.jpg 1319w, https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Top-4-stablecoins-770x215.jpg 770w\" sizes=\"(max-width: 1319px) 100vw, 1319px\" \/><figcaption>UST ranked 3rd in the stablecoin category. Source, Coinmarketcap.com<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Summary: The Luna Foundation Guard has bought an additional 37,863 Bitcoin worth $1.5 billion The purchase is in line with Do Kwon&#8217;s goal of backing UST with digital asset reserves worth $10 billion The Luna Foundation Guard now holds 80,394 BTC The Luna Foundation Guard has acquired an additional 37,863 Bitcoin worth $1.5 billion to further back its popular stablecoin of UST. The recent purchase of Bitcoin was carried out in two transactions: $1 billion with Genesis Trading and $500 [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":57162,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[800,947],"tags":[7679,7682,7681,7687,7680],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/57161"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=57161"}],"version-history":[{"count":1,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/57161\/revisions"}],"predecessor-version":[{"id":57165,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/57161\/revisions\/57165"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/57162"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=57161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=57161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=57161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}