Binance purchases 1 billion worth of bitcoins using SAFU fund

Binance has completed its purchase of 1 billion dollars worth of bitcoin using their SAFU fund. The bitcoin address, 1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD, is now home to 15,000 bitcoins, with current value of $1.005 billion.

This purchase was not done in one go, as it would have impacted the market price. Instead Binance slowly and slowly bought the bitcoin. For instance, they used the SAFU funds yesterday to purchase 4545 bitcoins worth $304 million.

These SAFU funds were earlier in stable coins, meant to be used as insurance. With the market in bear market, it made full sense to cover the stable coins into bitcoin.

15k BTC at ~$67k average. Insurance fund stacking harder than most funds with actual mandates to buy. They’re not even trying to time the bottom — just absorbing supply in chunks. that’s conviction not hedging. SAFU stacking 15,000 BTC in this environment feels like long-term positioning, not trading.

Is Binance playing 4D chess while we all panic sell? Time will tell. Why is it called SAFU fund? It is due to this meme video that surfaced many years back.