Binance announced on Thursday that it has completed the conversion of its $1 billion Secure Asset Fund for Users (SAFU) from stablecoins to Bitcoin. The final purchase involved 4,545 BTC, increasing its total reserve to 15,000 BTC.

The firm’s choice to redirect its emergency insurance reserve into BTC, as opposed to a dollar-pegged asset, marks a significant shift from its previous stance announced in April 2024. This strategic move applies approximately $1 billion of user protection funds directly into the cryptocurrency with the largest market capitalization.

Conversion Completed Within 30-Day Window

According to on-chain data monitored by Lookonchain, Binance executed the rebalancing through multiple purchases between February 2 and February 12. The last acquisition, consisting of 4,545 BTC valued at $304.5 million, brought the total worth of Bitcoin holdings to over $1 billion, based on the current price, which is around $67,000.

Originally, on January 30, Binance had announced its intention to complete this conversion within a month. However, the finalization came before the end of that timeline, revealing a SAFU wallet now containing 15,000 BTC.

Established in 2018, the Secure Asset Fund for Users serves as an insurance pool to compensate users in extreme situations, such as exchange hacks. In April 2024, Binance had changed the fund entirely into USDC, labeling the decision a precautionary measure. The latest conversion signifies a drastic change in that strategy.

Binance emphasizes that it regards Bitcoin as “the premier long-term reserve asset,” framing the recent decision as one that aligns SAFU with this perspective. Additionally, it has indicated a commitment to rebalance the fund if its value dips below $800 million due to depreciation.

Market Context

At the time this announcement was released, CryptoQuant data indicated that Binance accounted for approximately 41% of spot trading volume among the top ten exchanges in 2025. The exchange is similarly dominant in Bitcoin perpetual futures and stablecoin reserves.

Currently, Bitcoin is trading at around $67,300, having increased slightly by approximately 0.5% over the last 24 hours. However, it has experienced a decline of nearly 5% over the past week per CoinGecko data.

In the long term, the cryptocurrency has lost roughly 24% of its value over the last fortnight and nearly 30% in the last month, positioning its price substantially below its historical peak of over $126,000, reached in October 2025.

Relevant Links

• Binance Announces Conversion
• Coinmarket Cap for real-time cryptocurrency data.