Binance Completes $1B SAFU Fund Conversion to Bitcoin
Binance has completed its conversion of the SAFU fund's $1 billion stablecoin reserves into Bitcoin, finishing the transition within the promised 30-day timeframe.
**Key Details:**
- Final purchase: 4,545 BTC
- Total SAFU holdings: 15,000 BTC (valued at $1.005B at $67,000 per BTC)
- SAFU BTC address: [1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD](https://www.blockchain.com/en/explorer/addresses/btc/1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD)
- [Latest transaction](https://www.blockchain.com/en/explorer/transactions/btc/5a600ed820d66d696b606aeadadb4b36b7c447d812f9edac8592d6aeac20d321)
The conversion was executed in four tranches over 12 days, starting with 2,630 BTC on February 2nd and concluding on February 12th.
Binance stated the move reinforces their view of Bitcoin as the premier long-term reserve asset. The SAFU fund will undergo regular rebalancing, with Binance committing to replenish it to $1B if market movements cause it to fall below $800M.