- Binance added 1,315 BTC to SAFU, lifting total holdings to 2,630 BTC worth about $201M after two buys in two days.
- The purchases are part of a plan to convert up to $1B in SAFU reserves from stablecoins into Bitcoin within 30 days.
- Accumulation occurred during market fear and selloffs, highlighting Binance’s reserve strategy amid volatility.
Binance added 1,315 Bitcoin to the SAFU fund on February 4. The purchase followed a prior acquisition earlier this week and forms part of a plan to convert $1 billion in reserves from stablecoins into Bitcoin.
SAFU Fund Accumulation Reaches 2,630 Bitcoin
According to Arkham data, Binance purchased the additional 1,315 BTC for about $100.42 million. This marked the second Bitcoin purchase within two days. As a result, the SAFU fund now holds 2,630 BTC valued at roughly $201.12 million.
Binance stated that the move reflects its ongoing reserve reallocation strategy. The exchange previously announced plans to convert up to $1 billion of SAFU assets into Bitcoin within 30 days. On Wednesday, Binance confirmed that the second $100 million stablecoin conversion had been completed.
Earlier in the week, Binance transferred around 1,315 BTC from its hot wallets to the SAFU wallet address labeled “1BAuq.” Notably, these transactions occurred during heightened market uncertainty and declining digital asset prices.
Timing Linked to Market Volatility
The purchases followed a broad crypto market selloff that led to sharp price declines. Bitcoin remained under pressure amid what market trackers described as “extreme fear” sentiment. Liquidity conditions also appeared thin during the period.
However, trading activity increased sharply. Market data showed trading volume rose by about 40% in the past 24 hours. According to observers, traders closely monitored the on-chain movements connected to the SAFU wallet. Arkham data provided visibility into the timing and size of the transfers.
Market Reactions and Broader Context
While Binance continued its reserve shift, warnings about broader market risks persisted. Investor Michael Burry cautioned about a potential Bitcoin price crash. He also highlighted possible implications for corporate treasury strategies and traditional financial markets.
Meanwhile, Binance emphasized that the SAFU fund exists to protect users during periods of instability. The exchange has maintained the fund since 2018 as an emergency insurance mechanism. The latest Bitcoin purchases represent one of the SAFU fund’s largest reallocations during a single week.
