Binance made its first purchase of Bitcoin as part of its new SAFU conversion plan worth one billion dollars, with the acquisition of 1,315 BTC valued at approximately 100.7 million dollars.
This purchase, which occurs just a few days after the conversion of its SAFU fund into Bitcoin reserves, takes place as the markets are experiencing a new wave of strong selling pressure.
Binance acts like a central bank by injecting 100 million dollars into the market
On Monday, February 2, on-chain data confirmed that the SAFU fund address of Binance had received 1,315 BTC worth $100.7 million.
This is the first tranche completed of the exchange's plan to convert its Secure Asset Fund for Users, moving from stablecoins to Bitcoin over a period of 30 days.
Binance later confirmed the transaction, stating that $100 million in stablecoins had been converted and that further BTC acquisitions would follow until reaching the total target of $1 billion.
Although Binance has not explicitly labeled this initiative as market intervention, the timing is far from insignificant. Indeed, the purchase comes as Bitcoin's price evolves in a strong climate of uncertainty, trading below the psychological threshold of $80,000.
« I am always surprised that those who have the most to lose from a drop in Bitcoin (the $80,000 line) do not defend it over the weekend, » noted Jim Cramer, host of Mad Money on CNBC.
Indeed, Bitcoin had a difficult weekend, revealing a deep market fracture between opportunity and structural vulnerability.
In this context, some analysts compare the conversion of the SAFU to central bank-type interventions in traditional finance (TradFi). Just as in traditional finance, institutions mobilize their reserves to stabilize confidence during times of tension.
Indeed, among the main past examples, the following cases can be found:
This structure fuels speculation that Binance would indeed engage in regular purchases during corrections.
"Binance's latest announcement confirms that they have already purchased $100 million of Bitcoin on the market, and that there is still $900 million to invest," emphasized analyst AB Kuai Dong.
He added that the fund's rebalancing rule could amplify this effect. Indeed, if Bitcoin's price drops to the point of pushing the value of the SAFU below its floor threshold, Binance would be compelled to accumulate more BTC to restore the fund's value.
A discreet support for Bitcoin with Binance, Saylor, and whales
According to the SAFU structure, the fund is continuously monitored. If a drop in BTC reduces its value beyond predefined thresholds, Binance must then replenish it. This dynamic could serve as a safety net for the asset during periods of high volatility.
On-chain signals also indicate that Binance may be preparing for new accumulation operations. Earlier in the day, the SAFU address initiated authorization transactions to add new recipients to its whitelist.
This initiative is often associated with the operational preparation for additional asset transfers.
This purchase also comes as other major Bitcoin holders are sending new signals of confidence. A day earlier, MicroStrategy's executive chairman, Michael Saylor, posted an enigmatic message on X (Twitter) — "More Orange" — which is broadly interpreted as a hint at a forthcoming Bitcoin purchase.
This post appeared despite the significant drop in MicroStrategy's shares in recent sessions and as Bitcoin briefly approached the company's average purchase price.
Taken together, these initiatives reinforce the idea that actors with significant capital are seeking to stabilize the market organically rather than through coordinated action.
Beyond individual announcements, major on-chain trends indicate that large holders may already be intervening. Data from CryptoQuant notably shows that crypto whales have continued to accumulate during the recent price correction.
Will this nascent support translate into a real price floor around $75,000?
However, with $900 million of SAFU conversions still to be made, Binance positions itself as one of the most significant sources of structural demand for Bitcoin in the short term.
The moral of the story: crypto does not aim to replace TradFi but to join it.
