TLDR:
Binance SAFU Fund purchased 1,315 BTC worth $100.42M on February 4, its second buy in two days.
Total two-day accumulation reached 2,630 BTC valued at approximately $201.12M at $76,000 per coin.
Purchases represent 20% of Binance’s plan to convert $1B in stablecoins to Bitcoin within 30 days.
CEO CZ dismissed critics with “Fudders FUD. Binance buys” while providing transparent blockchain data.
Binance SAFU Fund acquired 1,315 Bitcoin on February 4, completing its second major purchase within 48 hours.
The transaction, valued at approximately $100.42 million, brings the fund’s two-day accumulation to 2,630 BTC worth around $201.12 million.
These purchases form part of Binance’s broader plan to convert $1 billion in stablecoin reserves to Bitcoin over 30 days.
Rapid Accumulation Over Two Days
The SAFU fund executed identical purchases on two consecutive days, acquiring 1,315 BTC in each transaction. On February 2, the fund completed its first purchase at similar pricing levels. Two days later, another 1,315 BTC joined the reserve through a publicly verified blockchain transaction.
Data from Arkham confirmed the February 4 acquisition, showing active movement of funds into the designated SAFU Bitcoin address.
Binance announced the completion through its official social media channels with full transaction transparency. The exchange stated it is “continuing to acquire Bitcoin for the SAFU fund, aiming to complete conversion of the fund within 30 days.”
Each Bitcoin in these transactions cost approximately $76,000, reflecting current market conditions following recent price corrections.
The consistent purchase amounts suggest a systematic approach to reserve conversion rather than opportunistic buying.
This methodical strategy allows the fund to accumulate substantial holdings while maintaining operational consistency.
The combined 2,630 BTC represents a significant portion of the planned $1 billion conversion announced on January 29.
At current prices, the two-day purchases account for roughly 20 percent of the total planned Bitcoin acquisition. This rapid start indicates Binance’s commitment to executing the conversion ahead of schedule.
Building Emergency Reserves Through Bitcoin
The Secure Asset Fund for Users serves as Binance’s primary emergency insurance pool since its establishment in 2018.
The fund operates independently from the exchange’s operational capital to protect users against cyberattacks and technical failures. Converting stablecoin holdings to Bitcoin represents a strategic shift in how these emergency reserves are structured.
CEO CZ responded to market observers questioning the timing of these purchases with a direct statement. He posted “Fudders FUD. Binance buys,” dismissing skepticism while reaffirming the exchange’s acquisition strategy. His response came as Bitcoin prices remained below recent highs of $90,000.
The decision to accumulate 2,630 BTC during a period of market uncertainty demonstrates confidence in Bitcoin’s long-term value proposition.
Rather than waiting for potential further price declines, Binance executed large-scale purchases at current levels. This approach prioritizes swift reserve conversion over attempting to time market bottoms.
Industry observers noted the purchases as evidence of institutional confidence during volatile trading conditions. The substantial capital deployment strengthens user protection mechanisms while simultaneously supporting Bitcoin demand.
Exchange reserves have become critical components of cryptocurrency market infrastructure as user security expectations continue evolving.
