Terra smash-buys $139M Bitcoin, wallet reaches 31,000 BTC

[Crypto News Updates]

"Watch out Michael Saylor! Do Kwon, CEO of Terraform Labs, is hot on the heels of MicroStrategy’s CEO. The Terra wallet belonging to LFG (Luna Foundation Guard) has now amassed almost $1.5 billion in Bitcoin (BTC) following another huge BTC purchase.

The wallet address thought to belong to Terra (while not officially confirmed) received another 2,943.00002511 BTC ($139 million) on Wednesday. Wallet alert accounts on Twitter have been tracking the wallet.

The wallet began amassing colossal amounts of Bitcoin on Jan. 21 and has not sold a single satoshi."


Full article: https://cointelegraph.com/news/terra-smash-buys-139m-bitcoin-wallet-reaches-31-000-btc

[shinratensei_]

Do kwon was focusing to buy more and more bitcoin. As far as i know, that step already taken by do know to make terra became even stronger than before. We have a new hero and im sure that those companies like microstrategy and tesla will not underestimate the crypto company.


Im feeling curious where was the money coming from? Terra itself has been purchasing billions of bitcoin. That's a very big amount of money.

Let's see how it goes. How many bitcoin will be acquired by terra foundation.

[sunsilk]

They've said it that Terra is going to keep on buying.

So news like this will keep coming with the same headlines and content. Well, I guess Terra and its founders have done a great job getting the attention of everyone.

It seems very effective and when there's money, everybody would love to talk about it!

[zasad@]

The fun in Terra continues

https://twitter.com/terra_agora/status/1582035467163160576
"New Agora post: Terra Expedition | An Ecosystem Expansion Program.

Join the conversation here: https://agora.terra.money/discussion/7257.

Preview: Terra Expedition | An Ecosystem Expansion Program"

Terra Expedition | An Ecosystem Expansion Program
https://agora.terra.money/discussion/7257

[avikz]

"Watch out Michael Saylor! Do Kwon, CEO of Terraform Labs, is hot on the heels of MicroStrategy’s CEO. The Terra wallet belonging to LFG (Luna Foundation Guard) has now amassed almost $1.5 billion in Bitcoin (BTC) following another huge BTC purchase.

The wallet address thought to belong to Terra (while not officially confirmed) received another 2,943.00002511 BTC ($139 million) on Wednesday. Wallet alert accounts on Twitter have been tracking the wallet.

The wallet began amassing colossal amounts of Bitcoin on Jan. 21 and has not sold a single satoshi."


Full article: https://cointelegraph.com/news/terra-smash-buys-139m-bitcoin-wallet-reaches-31-000-btc

While such huge demand is usually good for the market, I do see some issues in such cases if the buying entity is a cash Rich corporate. with such huge amount of bitcoin in their coffers, they hold the power to smoothly manipulate the market. This is something must not happen in the crypto market. Too much of wealth centralization is not good in real world as well as in crypto world. You never know who is taking interest on what!

[dansus021]

Do kwon was focusing to buy more and more bitcoin. As far as i know, that step already taken by do know to make terra became even stronger than before. We have a new hero and im sure that those companies like microstrategy and tesla will not underestimate the crypto company.


Im feeling curious where was the money coming from? Terra itself has been purchasing billions of bitcoin. That's a very big amount of money.

Let's see how it goes. How many bitcoin will be acquired by terra foundation.

damn It I am gonna say like this where the money coming from especially after luna crash all money from Terra foundation guard is burn to save UST but fail but they have another billion.

to make billion dollar its very hard even you have running multiple luna node right

[john1010]

Well. as I've said, this post is months old, but where is terra now? hahaha, that is huge money and they saw the future of their project that's why they invested the collected money into real gold, Bitcoin.

[DeathAngel]

Well. as I've said, this post is months old, but where is terra now? hahaha, that is huge money and they saw the future of their project that's why they invested the collected money into real gold, Bitcoin.

Terra is/was a massive scam, that’s what happened to it.

More details here: https://medium.com/coinmonks/whats-happening-with-the-terra-luna-seed-money-exit-scam-of-the-founders-with-6-billion-32946f34841e

[cryptoaddictchie]

Are those btc still intact? Ive notice that the post is from few months back so it probably change now. As we remember that they got their btc eaten up on the massive down fall due to the comtroversial shorting of a company.

I think they still cling on but curious how the ecosystem can still produce massive funds. Maybe a secret partner or what anonymous backer.

[JeromeTash]

The wallet began amassing colossal amounts of Bitcoin on Jan. 21 and has not sold a single satoshi."

This aged well 

While such huge demand is usually good for the market, I do see some issues in such cases if the buying entity is a cash Rich corporate. with such huge amount of bitcoin in their coffers, they hold the power to smoothly manipulate the market. This is something must not happen in the crypto market. Too much of wealth centralization is not good in real world as well as in crypto world. You never know who is taking interest on what!

Don't tell me you don't know yet what happened in the May 2022 Crypto crash and all the user funds that ended up getting locked up in different DeFi platforms

[goaldigger]

Well. as I've said, this post is months old, but where is terra now? hahaha, that is huge money and they saw the future of their project that's why they invested the collected money into real gold, Bitcoin.

Terra is/was a massive scam, that’s what happened to it.

More details here: https://medium.com/coinmonks/whats-happening-with-the-terra-luna-seed-money-exit-scam-of-the-founders-with-6-billion-32946f34841e

Despite of then trying back after the scam incidents, i think real investors doesn’t support this project anymore because many lose money on a supposed stablecoin. Well, TERRA is totally a mess right now, it’s not a good advise to invest on a project like this. Though Luna Classic might be different but still, we know where it came from and its purpose probably no that convincing, I’ll never put money on this project again.