In a positive week, cryptocurrencies saw price increases starting with Bitcoin.
It broke three-week highs of over $44,000 this morning.
The digital currency has gained more than 10% since the US Federal Reserve raised borrowing costs by 25 basis points on March 16.
Some reports indicated the existence of a USDT-based institution that is buying and hoarding the most popular digital currency as a buffer for the next market move.
The Singapore-based non-profit organization Luna Foundation Guard (LFG) reportedly bought Bitcoin as a reserve for the next few days, as it bought 2840 Bitcoin this week, and with the new Bitcoin price calculated, the team of LUNA has a storage value of $125 million.
$125 million moved from Terra’s secure Gnosis address, proof of purchase.
According to crypto news anchor Anthony Pompliano and partner at Morgan Creek Digital, the foundation will buy bitcoins at a fixed rate.
As Pompliano pointed out in a blog post on March 21: “They are slowly moving $3 billion into bitcoin from the Luna Foundation reserves, and that is done through massive purchases when prices are low.”
According for anyone According to market insiders, LFG has already raised 18,000 bitcoins, valued at more than $800 million.
Official confirmation of said purchases is still pending, as the institution announced its decision to build a $1 billion bitcoin reserve last month.
It also appears that the rally in stocks came after the Federal Reserve decision regarding bitcoin.