Watch out, Michael Saylor! Doo Kwon, CEO of Terraform Labs, is on the heels of MicroStrategy’s CEO. LFG’s Terra Wallet (Luna Foundation Guard) raised nearly $1.5 billion in Bitcoin (BTC) after buying another major BTC.
A wallet address believed to belong to Terra (but has not been officially confirmed) received an additional 2,943,00002511 BTC ($139 million) on Wednesday. Wallet Alerts Tracked wallet Twitter accounts.
The wallet started collecting a huge amount of bitcoins on January 21 and has not sold a single satoshi.
Terra bitcoin wallet is gradually accumulating billions of BTC suddenly. Source: BitInfoCharts
According to the chart, while the wallet first pumped nearly 10,000 BTC on January 21, it began accumulating satoshis in earnest on March 22. The timing coincides with the statements of the CEO, who said: “US dollars with 10 billion dollars in bitcoin. Reserves “will enter a new monetary era for the bitcoin standard.
TerraUSD (UST), a stable algorithm, will be pegged to the value of the US dollar and Bitcoin reserves will support the value of these “dollars”. LFG is where Terra’s original coin, Terra (LUNA), will also play a role in creating the Stack Currency.
As a result, Kwon Sato has built up stronger and faster than the biggest Bitcoin bulls. Terraform Labs will soon acquire Tesla as the second largest holder of bitcoin, according to BitcoinTreasities, and MicroStrategy on Radar.
The current state of the companies listed in the Bitcoin treasury. Terra will soon compete with Tesla. Source: Bitcoin Treasury
Related: MicroStrategy to Buy Bitcoin After Closing $205M Cryptocurrency Loan
Ultimately, Kwon’s goal, he says in the following video, is for his bitcoin vaults to compete with Satoshi Nakamoto, the anonymous bitcoin creator.
Meanwhile, given the sluggish price action over the past 72 hours, Terra’s purchases seem to support the bitcoin market, with LUNA hitting new highs and matching the namesake LFG.