As of writing, LFG is in the process of raising $3 billion, most of which has already been raised, to buy bitcoin and has purchased almost 28,000 bitcoin, worth ~$1.3 billion. Given the indication that LFG intends to hold more than $10 billion in bitcoin, there is more purchasing that LFG needs to do. Absent any large moves in BTC price, that could mean ~180,000 bitcoin of purchase volume in the coming months. Given there is more than $20 billion of bitcoin trading volume each day and that LFG has made most of its purchases in ~$125 million lots, it won’t have any issues filling its purchase orders.
This article originally appeared on https://www.coindesk.com/markets/2022/03/29/tracking-luna-foundation-guards-bitcoin-purchases/