A $ 10 billion review of the Luna Foundation’s bitcoin investment; How to find out about future purchases?



Blockchain developer Terra, better known as the LUNA token, has been buying large quantities of bitcoins for some time, and the price of bitcoin has risen by several percent each time it makes a purchase; But what is the plan of this collection for buying bitcoins and how can we be informed about its next purchases?

According to the Quinn Desk, the Luna Foundation Guard or Luna Foundation, a non-governmental organization focused on China Terra Block Protocol, recently announced plans to buy at least $ 10 billion in bitcoins to provide financial support for QuinnTable Stable (UST) supports. While the details of how to use bitcoin as a backbone in this protocol are still being explored, thanks to the transparency of the bitcoin blockchain, we can see the size of the Luna Foundation’s assets.

The Kevin Desk website has confirmed and published the following Luna Foundation address:

bc1q9d4ywgfnd8h443da5tpcxcn6ajv590cc6d3tg6axemvljvt2k776zs50tv4q

Recent actions at this address, such as purchase or transfer, can be viewed using Block Explorer, such as “Blockchain.com” or Bitcoin Full Node. OKLink, another Chinese blockbuster, has marked this address as the Luna Foundation address. Furthermore, robot There is also Twitter, which tracks the balance of the Luna Foundation’s portfolio. As a result, you can easily track Luna Foundation’s subsequent purchases this way.

The Luna Foundation says it is currently raising $ 3 billion to buy bitcoins, some of which have already been raised. The foundation has so far purchased approximately 30,000 bitcoins worth $ 1.45 billion. With the Luna Foundation planning to hold more than $ 10 billion in bitcoins, it is likely to make more purchases in the future.

If you don’t see a big jump in the price of bitcoin, it could mean that the next 180,000 bitcoins of the Luna Foundation will be purchased in the coming months. Given that Bitcoin has a daily trading volume of more than $ 20 billion, and the Luna Foundation makes purchases of about $ 125 million each time, it will have no problem fulfilling its purchase orders. However, Luna’s slow pace in buying bitcoins and not investing at once can have several reasons.

What are the consequences of creating a stable coin with bitcoin support?

Bitcoin has always been a decentralized, unlicensed blockchain that maintains a completely transparent asset. Thus, the trajectory, if successful, can become a stable dollar coin, supported by a fully transparent asset.

Currently, stable coins with specific financial support, such as Tetra (USDT) and USCAD (USDC), are maintained on an equal footing with the US dollar, but their support is only guaranteed by accounting firms. Some experts may see the existence of a stable dollar coin with clear and verifiable reserves as an improvement on the current stable coin situation, where consumers need to trust their suppliers instead of seeing the exact number of tokens secured.

This can be a significant improvement for stables. Stable currency pairs, such as bitcoin / tetra, make up the bulk of digital currency trading volumes and also have potential applications for regular payments. As the economy becomes increasingly dependent on stable currencies, including digital currencies and other sectors, confidence in them is growing. Using bitcoin as financial support for an important project can be a useful breakthrough in the development of stable money-backed coins.

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