SAFU Fund Upgrades Bitcoin Reserves
According to the latest on-chain data, the Binance SAFU Fund address purchased an additional 4,545 BTC today, valued at approximately $304.58 million. This marks the successful completion of the $1 billion Bitcoin reserve plan, with the fund now holding a total of 15,000 BTC worth $1.005 billion.
Strategic Shift from Stablecoins to Bitcoin
On January 30, Binance announced its plan to gradually shift its $1 billion stablecoin reserves into Bitcoin, aiming to complete the transition within 30 days. This strategic decision reflects the company's strong belief in the long-term value of Bitcoin and its role as a resilient reserve asset.
Dynamic Adjustment Ensures Stability
To manage market volatility, Binance has also implemented a dynamic adjustment mechanism. If the fund’s market value drops below $800 million due to price fluctuations, Bitcoin will be added to restore reserves to the $1 billion benchmark.
- Current BTC holdings: 15,000 BTC
- Total value: $1.005 billion
- Latest addition: 4,545 BTC ($304.58 million)
This strategic move not only enhances the fund’s resilience against potential risks but also signals Binance’s confidence in the long-term growth of the crypto ecosystem.