Terra Beats Tesla As Second-Largest Corporate Bitcoin Holder After $1.5B Purchase

Name	Symbol	Market	Market Cap ($)	Algorithm
Avalanche	AVAXUSD	Crypto	13,162,626,154	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Avalanche

AVAXUSD

Crypto

13,162,626,154

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.480	1.39%	34.92	34.91	34.92

Price Change

Price Change %

Current Price

Bid Price

Offer

0.480

1.39%

34.92

34.91

34.92

High Price	Low Price	Open Price	Prev. Close	52 Week Range
35.24	34.36	34.39	34.44	8.62 - 65.38

High Price

Low Price

Open Price

Prev. Close

52 Week Range

35.24

34.36

34.39

34.44

8.62 - 65.38

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	06:34:40	0.286287	34.92	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

06:34:40

0.286287

34.92

USD

Price x Volume	Volume	Base Symbol	Related Pairs
3,841,572.41	110,109.33	AVAX	AVAXEUR	AVAXGBP	AVAXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

3,841,572.41

110,109.33

Terra Beats Tesla As Second-Largest Corporate Bitcoin Holder After $1.5B Purchase

07/05/2022 12:00am

NEWSBTC

Terra’s commitment to filling up its coffers with Bitcoin has been solidified once more with another $1.5 billion purchase. This is the fruit of a pledge that the project had made to buy more than $10 billion worth of BTC to serve as a reserve for its stablecoin, UST. More importantly, though is how this boosts the foundation’s standing when it comes to corporations holding the digital asset. Terra Now Holds More BTC Than Tesla Before Terra had begun its bitcoin buying spree, there have been other corporate bodies that had already made the plunge to do so. The likes of MicroStrategy, Galaxy Digital, and Tesla come to mind when thinking of this. While MicroStrategy had cemented its lead as the company with the largest BTC holdings, Tesla had retained its position in second place. That is, until now. Related Reading | Bitcoin Institutional Outflows Near One-Year Highs, More Downside Coming? With its most recent buy, Terra has now become the second-largest corporate bitcoin holder, beating out Tesla for the title. The deal was carried out as an over-the-counter (OTC) purchase in conjunction with cryptocurrency broker Genesis and Three Arrows Capital, a crypto trading and venture capital firm. The Luna Foundation Guard (LFG) which had begun accumulating BTC earlier this year has ramped up its buying. It is one of the fastest accumulation trends of any corporate bitcoin holder. Its first purchase had taken place in February, and now, barely three months later, the non-profit foundation now holds 80,393 total BTC. All of which come out to a dollar value of $2.9 billion at the time of its last purchase. It now holds almost double what Tesla holds, which currently sits at 48,000 BTC. Reiterating The Promise When Do Kwon, founder of Terra, had announced that the foundation was planning to buy $10 billion worth of BTC for its treasury, the question had been when. While participants in the space had speculated it would take a while before they began buying the coins, Terra had quickly moved forward to start. It had gradually added BTC to its treasury and in three months has now purchased more than a quarter of the $10 billion BTC. BTC falls below $36,000 | Source: BTCUSD on TradingView.com In an additional move, Terra had also moved to add another cryptocurrency to its treasury. This time around turning to Avalanche (AVAX) to do so. It had purchased a total of $200 million worth of AVAX, a trade that was carried out directly with the Avalanche Foundation. Related Reading | Bitcoin ETP Outflows Spell Bearish Sentiment Among Institutional Investors The Luna Foundation Guard reserves have now grown to $3.23 billion. Bitcoin makes up 90.7% of the reserves with a total of 80,393 BTC valued at $2.93 billion. LUNA makes up the second-largest portion with $126.63 million making up 4.2%, AVAX at 3.5%, USDT AT 0.8%, and USDC at 0.7%. Featured image from Portal do Bitcoin, chart from TradingView.com

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