Summary:
The Luna Foundation Guard has acquired an additional 37,863 Bitcoin worth $1.5 billion to further back its popular stablecoin of UST.
The recent purchase of $1.5 billion worth of Bitcoin is in line with the vision of Terra’s founder, Do Kwon, of backing TerraUSD (UST) with $10 billion worth of BTC and other digital assets.
He also added that time is the only element left to test out the TerraUSD (UST) project. Additionally, the stablecoin project is particularly important given ‘that we live in a time where there’s excess money printing across the board and when monetary policies highly politicized that there are citizens that are self-organizing to try to bring systems back to a sounder paradigm of money.’
