Singapore-based Luna Establishment Watchman (LFG) made one more bitcoin acquisition of $1.5 billion in Bitcoin for its UST stablecoin hold.
As per CNBC on Thursday (May 5, 2022), LFG raised the assets through a $1 billion over-the-counter (OTC) trade with digital currency intermediary Beginning and a $500 million worth of bitcoin buy from multifaceted investments chief Three Bolts Capital.
In April, LFG purchased BTC worth $100 million. Following the most recent buy, the UST algorithmic stablecoin save currently holds around $3.5 billion in bitcoin, making it one of the main 10 BTC holders universally.
The fellow benefactor and Chief of Terraform Labs, Do Kwon, back in Spring reported plans to raise $10 billion worth of BTC as guarantee for UST. Do Kwon desires to accomplish this objective toward the finish of Q3 2022.
As per an assertion from Do Kwon:
"Interestingly, you're beginning to see a fixed money that is endeavoring to notice the bitcoin standard. Making serious areas of strength for a bet keeping a great deal of those unfamiliar stores as a computerized local cash will be a triumphant formula."
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