Binance buys 1,315 BTC in first $100M step of $1B SAFU-to-Bitcoin plan

On February 2, on-chain data confirmed Binance executed the first Bitcoin purchase under its newly announced $1 billion SAFU conversion plan, acquiring 1,315 BTC worth about $100.7 million as Bitcoin traded below the $80,000 level. BeInCrypto reported the SAFU Fund address received 1,315 BTC and Binance later confirmed $100 million in stablecoins had been converted, saying further BTC acquisitions will follow until the full $1 billion target is reached.

The conversion is planned to occur over a 30-day period. The purchase arrived amid renewed selling pressure in the market and has been compared by some analysts to central bank–style interventions aimed at shoring up confidence. CNBC host Jim Cramer was quoted saying, “I am always surprised that those who have the most to lose by a falling bitcoin ($80,000 line in the sand) don’t defend it over the weekend.” Analysts have speculated the SAFU framework could force continued dip-buying.

"Binance’s latest announcement confirms they have already purchased $100 million worth of Bitcoin from the market, with $900 million still to go," analyst AB Kuai Dong noted, adding that the fund’s rebalancing rule could require Binance to buy additional BTC if the SAFU value falls below its floor.

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