Terra Adds Another $139 Million Worth of BTC to Its Reserve as Bitcoin Whale Transactions Spike

Bitcoin continues to attempt a breakthrough of the $48,300 barrier, as the Luna Foundation Guard (LFG), a nonprofit focusing on UST, resumed purchasing the largest cryptocurrency.

Reports have it that Terra has added another 2,943 Bitcoins, or $139 million worth, to its reserve. Before that, LFG transferred about 139 million USDT to Binance address 0xf05e2a70346560d3228c7002194bb7c5dc8fe100 as the purchase fund.

? ? ? ? ? ? ? ? ? ? 139,450,000 #USDT (139,450,000 USD) transferred from unknown wallet to #Binancehttps://t.co/lErPMP3JAE

— Whale Alert (@whale_alert) March 30, 2022

Terra (LUNA) co-founder Do Kwon gives an indication as regards the transfer to the Binance address by replying with a cryptic tweet to WhaleAlert’s transaction notification.

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— Do Kwon ? (@stablekwon) March 30, 2022

LFG has purchased 5,773 BTC, worth $272 million, this week. The foundation’s confirmed Bitcoin address showed that nearly half of this amount was purchased on Monday. Last week, it acquired about $125 million of BTC each weekday.

On-chain analytics firm Santiment reports that Bitcoin faced the largest four-hour interval of whale transactions over the last 24 hours, the largest seen since March 1.

? #Bitcoin‘s whales have been active today. The 3,266 $100k+ transactions between 2pm and 6pm UTC were the most in a 4-hour interval since March 1st. Market prices peaked at just above $48.0k 8 hours ago, and they’ve now come down just slightly to $47.3k. https://t.co/YHVhTD9EjK pic.twitter.com/VUgVZOaXPm

— Santiment (@santimentfeed) March 29, 2022

It notes that transactions greater than $100,000 numbering up to 3,266 occurred in a spate of four hours as Bitcoin touched $48K. Bitcoin rose to highs of $48,128 on March 29 before a retreat to lows of $46,572 before recovering to around $47,231, where it trades at press time.

More Bitcoin buys

CEO of MicroStrategy and Bitcoin evangelist Michael Saylor has just tweeted that the company’s subsidiary, MacroStrategy, has taken a loan of $205 million to acquire Bitcoin. The loan is collateralized in BTC as well, according to the tweet.

The article published by MicroStrategy says that the loan was taken from Silvergate Bank, a subsidiary of Silvergate Capital Corporation, which is a leader in providing innovative financial infrastructure solutions in the cryptocurrency field.

The bank has issued a $205 million loan to MacroStrategy as part of the Silvergate Exchange Network (SEN) Leverage program. The company will use the $205 million to acquire Bitcoin, as well as to pay fees, interest and all expenditures related to this purchase.