Reports have it that Terra has added another 2,943 Bitcoins, or $139 million worth, to its reserve
Bitcoin continues to attempt to breach the $48,300 barrier, as the Luna Foundation Guard (LFG), a UST-focused nonprofit, has resumed buying the largest cryptocurrency.
Reports have it that Terra has added another 2,943 Bitcoins, or $139 million worth, to its reserve. Before that, LFG transferred about 139 million USDT to Binance address 0xf05e2a70346560d3228c7002194bb7c5dc8fe100 as the purchase fund.
Co-founder of Terra (LUNA) Do Kwon gives an indication as to the transfer to the Binance address by replying with an encrypted tweet to the WhaleAlert transaction notification.
LFG has purchased 5,773 BTC, worth $272 million, this week. The foundation’s confirmed Bitcoin address showed that nearly half of this amount was purchased on Monday. Last week, it acquired about $125 million of BTC each weekday.
On-chain analytics firm Santiment reports that Bitcoin faced the largest four-hour range of whale trades in the past 24 hours, the largest since March 1.
It notes that transactions greater than $100,000 numbering up to 3,266 occurred in a spate of four hours as Bitcoin touched $48K. Bitcoin rose to highs of $48,128 on March 29 before a retreat to lows of $46,572 before recovering to around $47,231, where it trades at press time.
More bitcoin purchases
MicroStrategy CEO and Bitcoin evangelist Michael Saylor just tweeted that the company’s subsidiary, MacroStrategy, took out a $205 million loan to acquire Bitcoin. The loan is also collateralized by BTC, according to the tweet.
The article published by MicroStrategy says that the loan was taken from Silvergate Bank, a subsidiary of Silvergate Capital Corporation, which is a leader in providing innovative financial infrastructure solutions in the cryptocurrency field.
The bank provided a $205 million loan to MacroStrategy under the Silvergate Exchange Network (SEN) leverage program. The company will use the $205 million to acquire Bitcoin, as well as pay fees, interest, and all expenses related to that purchase.
