Binance SAFU Fund Reaches $1B, Surpassing Coinbase’s Holdings
- The Binance SAFU fund has achieved a total of $1 billion after acquiring 15,000 BTC.
- Recent purchases include an acquisition of 4,545 BTC for approximately $304 million.
- With this move, the Binance SAFU fund ranks among the top ten Bitcoin treasuries, surpassing Coinbase’s holdings of about 14,548 BTC.
- The fund now holds more BTC than countries like North Korea and Bhutan, which possess approximately 13,562 and 10,769 coins respectively.
- Binance executed its Bitcoin purchases in multiple batches as part of a gradual accumulation strategy during market downturns.
The successful completion of the $1 billion Bitcoin conversion plan by Binance reflects its strategic approach to accumulating assets despite market volatility. This accumulation highlights Binance’s confidence in the long-term potential of Bitcoin.
As it stands, the Binance SAFU fund’s holdings exceed those of major entities and even some nations, with a total of over $1 billion in BTC assets.(Source)
