TL;DR
- Binance converted nearly $300 million in stablecoins into 4,225 BTC for the SAFU fund, raising its total balance to 10,455 BTC.
- The fund has already reached 73.4% of its target, with an estimated value of $734 million and an average price close to $70,213 per BTC.
- The fund rebalance did not trigger sharp market moves.
Binance completed a new Bitcoin purchase for the Secure Asset Fund for Users (SAFU) after converting approximately $300 million in stablecoins into 4,225 BTC. The transaction lifted the fund’s total balance to 10,455 BTC and forms part of a strategy aimed at rebalancing its composition over a 30-day period.
The conversion follows a defined roadmap designed to build a Bitcoin reserve close to $1,000 million. With this latest acquisition, the fund has reached roughly 73.4% completion. At market prices, the estimated value of the BTC held by the fund stands at around $734 million.
SAFU Is Now Nearly 74% Complete
The adjustment involved a direct reduction in assets linked to fiat currencies and a corresponding increase in Bitcoin-denominated holdings. Binance stated that the process will continue on a staggered basis and that each stage will be disclosed publicly once completed, keeping the fund’s composition up to date.
According to on-chain estimates cited in the reports, the SAFU fund’s average acquisition price is close to $70,213.68 per Bitcoin. The spot price is hovering around $69,000 at the time of publication. The fund shows an unrealized gain of approximately $3.41 million.
The SAFU rebalance did not generate abrupt market changes. After a 2.7% correction, Bitcoin stabilized around the $69,000 level, with no technical breaks or volatility spikes linked to the purchase. This muted response suggests the conversion had already been priced into market expectations.
No Abrupt Market Changes Were Recorded
The SAFU fund was created as a user protection mechanism for Binance and holds assets dedicated exclusively to that purpose. The accumulation of Bitcoin under this structure means those assets are not part of the exchange’s operational inventory or its day-to-day liquidity.
SAFU consists of acquisitions carried out under the same program, all funded through stablecoin conversions. The goal is to avoid concentrating the fund’s rebalance in a single transaction and to spread purchases across the timeframe announced by the exchange. The process remains ongoing until the planned amount is completed and is expected to include additional conversions in the coming weeks
