Terra surpasses Tesla and Rises to Second Place Among Bitcoin-rich Companies

With the Bitcoin purchases they did yesterday with the non-profit organization Luna Foundation Guard (LFG), Terra has moved into second place among the companies rich in the popular cryptocurrency, BTC. The Luna Foundation Guard (LFG) has now abandoned the American titan Tesla.

Luna Foundation Guard, the company that wants to make Bitcoin reserves for UST, the largest asset of the decentralized stable cryptocurrency market, recorded that it purchased 37,860 Bitcoins at the level of $1.5 billion last day. In this purchase, the company's Bitcoin reserves reached 80,393 BTC, with approximately $2.9 billion. It was noted that Terra started buying BTC for the UST reserve towards the end of February. It was stated that the final purchase took place in two stages. While $1 billion BTC was traded OTC with Genesis, $500 million worth of Bitcoin was purchased from Three Arrows Capital. Yesterday's transactions were recorded as the largest purchase ever, with LFG doubling its Bitcoin reserve. Terra expressed his objective of building a $10 billion Bitcoin reserve when it began buying transactions in February, however it was pointed out that if the company achieves its goal, it will have nearly twice as many Bitcoins as MicroStrategy, which has the most Bitcoin in its portfolio. MicroStrategy presently has 129,218 Bitcoins worth $3.9 billion in its possession. Despite the significant volume of purchases of LFG, which is among the top ten whale businesses, the market saw steep drops yesterday. BTC dropped the most in a single day since January. While this ratio is given as 11%, the BTC price is expected to fall to $ 35,500 in the future weeks. The largest cryptocurrency, which is still in a downward trend, is currently trading at $ 36,300. Terra's native token, LUNA coin, fell 7.5 percent to $78.5 after yesterday's decline.