A new member has stolen the spotlight from Telsa from being the second biggest corporate holder of Crypto
Still, in the bearish period, large corporations are making business moves which are done behind closed doors but thanks to crypto-related blog sites that help in updating us about these moves, which proves that the best time to buy crypto and hold for a good profit is now that the market is down. Buy and hold in your wallets and watch how your bags will get pumped overtime. But don’t forget to DYOR. Don’t listen only to the hypes because there are lots of coins out there with no purpose order than to pump and dump, make money for the brains behind the scheme and lose money for those who don’t understand the concept.
In recent limelight, Luna Foundation Guard (LFG) the corporation giant behind the Terra ecosystem and the creation of the stablecoin known as UST, bought bitcoin worth 1.5 billion dollars, thereby making them the second-largest corporation to acquire bitcoins of large amounts after MicroStategy the public traded company with the largest number of bitcoin.
The most intriguing thing I found out about the business move made by Luna Foundation Guard in purchasing Bitcoin is the surprising fact that they did Over The Counter (OTC). They made a business deal using the old traditional way of buying stocks which involved employing the services of a broker. This move made by LFG was done out of their promise to purchase a total of 10 billion dollars to support their UST stable coin. This promise was made out of the desire to back up the Terra Ecosystem. This deal was done with the involvement of both BTC and UST as the exchange medium. UST was offered as the base coin in exchange for BTC. This has to show that LFG is fully committed to making their Terra Ecosystem a complete success when it comes to blockchain and technology.
The move brought about the purchase of 37,863 BTC for the price of 1.5 billion dollars making them surpass the initial second place holder corporation with large crypto, known as Telsa. Telsa has a total of 1.7 billion dollars which places them below LFG because now they have 3 billion dollars worth of Bitcoin in their arsenal, which is just one-third of the promise of 10 billion dollars they pledged.
In conclusion, if the corporation is still diving deep into the crypto space by purchasing more and more crypto, it just goes to prove that the best time to buy is now that the prices are low and get more or the best time to dish out more is now to earn more.
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