Luna Foundation invested over $1 billion in Bitcoin

28.03.2022 13:46
by Artem Ustinov
1 min read

Luna Foundation invested over $1 billion in Bitcoin

The non-profit organization Luna Foundation Guard has invested over $1 billion in Bitcoin. According to the head of the venture capital company Morgan Creek Digital, Anthony Pompliano, this was done to ensure the stability of the UST algorithmic stablecoin.

https://twitter.com/APompliano/status/1507728156094091264?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1507728156094091264%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2foundation-Flu.%2 guard-vlozhila-bolee-1-mlrd-v-bitcoin-dlya-obespecheniya-ustojchivosti-ust%2F

The address associated with the Luna Foundation has already received over 24,955 BTC. This wallet began to actively buy cryptocurrency on March 27th.

Terraform Labs founder Do Kwon announced that work on UST is being completed. The stablecoin will become a “hybrid” asset, allowing you to directly buy BTC at a 1% premium.

Author

  • Crypto analyst and practitioner trader with the law and managerial education. Active investor and crypto enthusiast. Worked as an analyst and copywriter in a brokerage company. Accompanied by DAO and NFT projects of different levels of complexity.

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