LFG Bought another US$1.5B in Bitcoin

Do Kwon announced on Twitter: 

https://www.cnbc.com/2022/05/05/luna-foundation-guard-bolsters-stablecoin-reserve-by-raising-1point5-billion-in-bitcoin.html

"The reserve now holds about $3.5 billion in bitcoin, which puts the UST Forex Reserve in the top 10 bitcoin holders in the world. It also holds north of $100 million in avalanche, another cryptocurrency.

In its latest bitcoin acquisition this week, the Luna Foundation Guard closed a $1 billion OTC swap with crypto prime broker Genesis for $1 billion worth of UST. It also bought $500 million of bitcoin from crypto hedge fund Three Arrows Capital."

When they say they will buy, they really buy, I have strong outlook for whatever Do Kwon and LFG is pumping out, but currently I don't hold any of their offerings though, but whenever I feel that I need to diversify, they will definitely be my first choice.

Right now market is pretty crap, I still feel safer to hold $BTC or $ETH. I'm very disappointed with $CRO after their recent fiasco, so it's out of my top 3 now, I might get some $LUNA instead.

As bad as Crypto.com is at managing changes, their exchange and app is still alright, especially the SGD Wallet which is very convenient to use, I don't think any other exchange have this feature, so I'm still going to stick around using their services, just not going to touch $CRO though.


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