Luna Foundation Guard's unconfirmed bitcoin purchases seem to have stirred interest in the top cryptocurrency. reports godbole17
Bitcoin continues to gain ground amid unconfirmed reports suggesting that a foundation focused on UST, the world's fourth-largest stablecoin, is accumulating the top cryptocurrency as a reserve asset.
The rumor mill is that Singapore-based non-profit organization Luna Foundation Guard purchased bitcoin worth $125 million early this week, delivering on itsto add BTC as an additional layer of security for UST – Terra's decentralized dollar-pegged stablecoin. The official confirmation of the said purchases is still awaited. The foundation announced the decision to build a $1 billion bitcoin reserve last month. Do Kwon, CEO of Terraforma Labs, recently said that the foundation has plans to iWhile the jury remains out on the size of the foundation's recent purchases, the speculation, along with the post-Fed rally in equities, appears to be boding well for bitcoin.
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