Binance Begins $1B SAFU Conversion With $100M Bitcoin Buy

[lingriiddd]

Binance has completed the first Bitcoin purchase under its newly announced $1 billion SAFU conversion plan, acquiring 1,315 BTC worth roughly $100.7 million.

On-chain data confirmed the transaction on February 2, marking the first tranche of Binance’s plan to convert its Secure Asset Fund for Users (SAFU) from stablecoins into Bitcoin over a 30-day period. Binance later confirmed that $100 million had already been converted, with additional BTC purchases planned until the full $1 billion target is reached.

The move comes as Bitcoin continues to trade below the key $80,000 level amid heavy selling pressure. While Binance has not framed the purchase as market support, the timing has drawn attention, positioning the exchange as a major near-term source of structural Bitcoin demand.

[cryptobro]

lol binance going full “central bank” vibes with this safu btc conversion. $100m down, $900m to go… scary/awesome.