Binance transforms its $1 billion reserve into 15,000 BTC

Binance transforms: The cryptocurrency exchange completed a 30-day strategy to transform its stablecoin-backed customer protection fund into 15,000 BTC, thus solidifying bitcoin as its long-term reserve asset.

Cryptocurrency trading platform Binance has finalized its strategy to convert the Secure Asset Fund for Users (SAFU) fully into bitcoin, concluding a $1 billion transfer from stablecoin reserves to BTC.

The exchange acquired a last tranche of 4,545 BTC, increasing SAFU’s total holdings to 15,000 BTC, worth at about $1.005 billion based on a bitcoin price of $67,000 at the time of completion, as stated in a post on X on Thursday.

The world's largest cryptocurrency was trading around $67,500 at publication time.

SAFU, established to protect users from losses caused by unforeseen events such as hacks, was originally backed by a mix of assets, including stablecoins. Under the new framework, the fund is now fully denominated in bitcoin. Binance also pledged to replenish the reserve if its value drops below $800 million due to market volatility.

Binance transforms its $1 billion reserve into 15,000 BTC

The 30-day transition was finalized within the timeline Binance set when it first announced the strategy shift. The move traces back to late January, when the exchange revealed it would convert $1 billion in dollar-pegged tokens held in SAFU into bitcoin, reinforcing its view of BTC as a long-term reserve asset.

A growing number of companies have begun adopting bitcoin as a strategic reserve asset in recent years, shifting portions of their treasuries from traditional fiat holdings into BTC. This trend reflects a broader institutional acceptance of bitcoin’s long-term store-of-value properties amid persistent inflationary pressures and low yields on conventional assets.

Binance exchange took an early on-chain step in that process on Feb. 2, transferring 1,315 BTC, worth roughly $100 million worth of bitcoin, from its hot wallets into SAFU. That transaction signaled the start of what would become one of the largest single treasury-style reallocations into bitcoin by a crypto exchange.

Binance said the fully bitcoin-backed SAFU underscores its confidence in BTC as the premier long-term reserve asset.