Binance buys another 3,600 BTC to push SAFU holdings to 6,230 BTC at $403M valuation

Binance’s SAFU fund bought 3,600 BTC worth $233.37 million on February 6, continuing its $1 billion conversion journey. On-chain data from Arkham Intelligence revealed that the recent purchase brought the SAFU fund’s total holdings to 6,230 BTC, valued at around $402.96 million.

The purchase of 3,600 BTC followed Binance’s announcement last week that it would convert the whole 1 billion SAFU stablecoin reserve into Bitcoin within the next 30 days. Binance said that “Bitcoin is the cornerstone of the crypto ecosystem and long-term value,” establishing the trade as a component of the sector’s wider dedication to transparency and resilience.

Binance revealed that the plan to implement the strategy called for frequent Bitcoin purchases rather than a single big trade. The exchange claimed that this strategy would avoid the disruption of the market.  Binance estimated that it would convert almost $33 million per day, which could result in the purchase of approximately 11,900 BTC by early March.

Arkham Intelligence data revealed that SAFU has been consistently accumulating its Bitcoin holdings over the past four days.  The fund purchased 1,315 BTC, worth about $100 million, on February 4. The fund had initially purchased another 1,315 BTC worth $100.7 million two days prior. The fund also made another smaller transfer of 0.0001 BTC, worth around $7.9, on the 2nd.

On-chain data further revealed that the recent transactions followed a two-year gap with the fund’s last Bitcoin purchase of 0.0001 BTC.

Binance SAFU conversion boosts market confidence, protects users

Analysts drew comparisons between Binance’s approach to convert 1 billion SAFU stablecoin reserve to BTC and central bank-style interventions in TradFi. They pointed out that Binance’s SAFU stablecoin conversions aim to support the market while maintaining transparency and confidence.

Analyst AB Kuai Dong added that Binance would have to purchase more BTC if SAFU’s value fell below its floor due to a significant Bitcoin price decline, highlighting the fund’s built-in rebalancing mechanism.

Binance confirmed that it would purchase additional Bitcoin to raise the reserve to its $1 billion target if the fund’s value fell below $800 million due to swings in Bitcoin prices.

The conversion of the SAFU stablecoin reserve into BTC represents Binance’s similar actions during previous periods of market stress. Binance converted $1 billion of its BUSD reserves into Bitcoin, Ethereum, and BNB in March 2023. 

This happened shortly after the U.S. banking crisis. The conversion of $1 billion BUSD reserves was widely viewed as a confidence-boosting measure at the time. The conversion reinforced Binance’s stance that cryptocurrencies could function as safe-haven assets during moments of financial volatility.

Binance’s Secure Asset Fund for Users (SAFU) is a security fund designed to protect users from losses caused by unforeseen events, such as hacks and other damages on the platform.

Strategy signals confidence with 713,502 BTC holdings

The SAFU fund’s recent BTC acquisition coincides with fresh indications from other major Bitcoin holders. Michael Saylor, the executive chair of Strategy, tweeted a mysterious “More Orange” comment on X on February 1, which was widely seen as a sign that another Bitcoin purchase was coming.

The tweet was accompanied by a chart showing his firm’s $55 billion in Bitcoin purchases since August 2020.  Saylor made the post despite Bitcoin briefly falling close to the company’s typical cost base and Strategy shares plunging dramatically in previous sessions. 

That signal was later reinforced by fresh revelation, as Saylor announced on X that Strategy held 713,502 BTC in its Q4 2025 results.

Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.