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๐ŸŽ“ Luna Coin team buys USD 128 million worth of Bitcoin

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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: โ€œThey are slowly moving $3 billion into bitcoin from the Luna Foundation reserves, and that is done through massive purchases when prices are low.โ€

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.


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