Luna Foundation Guard previously stated that it collected $2.2 billion to fund its Bitcoin reserves. If the foundation owns the wallet, it already holds 50% of the collected funds. It is unknown if the remaining portion of the funds will be sent to the same wallet or a different address.
Terra’s founder said the Luna Foundation Guard successfully secured $2.2 billion to establish a separate Bitcoin reserve for the network’s UST stablecoin. A private selling round raised $1 billion.
On March 26, 2022, LFG’s bitcoin wallet held 24,954.95 BTC worth over $1.1 billion. Source: CoinCulture
Recently, the foundation was reported to intend to acquire a large number of BTC at a rate of $125 million every day. The precise amount of purchased funds will not be published, although it is expected to be close to $2.2 billion.
Markets seem to have responded favourably to this trend, as the price of the first cryptocurrency climbed above $45,000 and over the ascending range’s strong resistance line, where BTC stayed for more than a month.
As of the time of writing, Bitcoin trading is at $44,575 and is impossible to break through, which shows insufficient purchasing power to propel the cryptocurrency over the range. Unfortunately, the volume indicator indicates that the weekend’s volume is much lower than the average weekly trading volume.