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Binance Shifts Its Insurance coverage Fund Into 15,000 BTC
The worldwide change acquired a closing tranche of 4,545 BTC, rising SAFU’s complete holdings to fifteen,000 BTC. On the time of the acquisition, Bitcoin was priced at $67,000, valuing the fund at roughly $1.005 billion, the corporate stated in a submit on X Thursday.
Binance additionally disclosed the Bitcoin pockets handle tied to the fund and supplied the transaction hash comparable to the ultimate on-chain buy.
On the time of publication, the apex crypto was buying and selling at roughly $67,500. Binance stated it might restore the reserve if market fluctuations trigger its worth to fall beneath $800 million.
SAFU, launched by Binance in 2018, serves as an emergency reserve to guard customers in opposition to potential losses from safety incidents or sudden disruptions on the change. The fund was beforehand backed by a mixture of belongings, together with stablecoins.
 
“With SAFU Fund now totally in Bitcoin, we reinforce our perception in BTC because the premier long-term reserve asset,” Binance famous.
Binance said that the transition was finalized inside 30 days of its unique announcement. In late January, the change revealed it might convert $1 billion in dollar-pegged tokens held within the consumer safety fund into BTC.
An rising variety of corporations have moved to include Bitcoin into their steadiness sheets, reallocating components of their treasuries from fiat currencies into BTC. The shift indicators broader institutional recognition of Bitcoin’s perceived long-term store-of-value potential, notably in opposition to a backdrop of ongoing inflation considerations and subdued returns from conventional belongings.
Binance initiated the method on Feb. 2 by transferring 1,315 BTC — valued at roughly $100 million on the time — from its sizzling wallets into SAFU. The switch marked the start of what would later rank among the many largest treasury-style reallocations into Bitcoin undertaken by a cryptocurrency change.
Crypto Sentiment At Excessive Worry
Binance’s conversion comes in opposition to a backdrop of persistently weak market sentiment.
Investor confidence deteriorated additional after Bitcoin briefly fell beneath $60,000 on Feb. 5. By Thursday, the Crypto Worry & Greed Index had dropped to a studying of 5 — its lowest degree on document — reflecting what information from different.me characterizes as excessive concern out there.
