Binance, the world's largest cryptocurrency exchange, announced on February 12, 2026, that its Secure Asset Fund for Users (SAFU) has fully converted its $1 billion stablecoin holdings into Bitcoin (BTC) within 30 days. The fund now holds 15,000 BTC, valued at approximately $1.005 billion at current prices.
Background and Commitment of the SAFU Conversion
Launched in 2018, SAFU serves as an insurance fund to protect user assets in extreme events. Originally capitalized at $1 billion, the fund was mostly held in stablecoins. In late January 2026, Binance pledged to shift the entire fund into Bitcoin, setting a 30-day deadline. It also promised to replenish the fund if its market value drops below $800 million.
Batch Purchases and Final Holdings
The conversion was executed in multiple tranches. The first batch in early February involved 1,315 BTC worth about $100 million. Subsequent batches included another $100 million, then a 3,600 BTC purchase valued at roughly $250 million. The final batch added 4,545 BTC. After all transactions, total SAFU holdings reached 15,000 BTC, with an estimated value of $1.005 billion. Binance disclosed each batch via its official X account to maintain transparency.
CZ: SAFU Bitcoin Reserve Should Perform Well
Binance founder Changpeng Zhao (CZ) commented on social media today: "I could be wrong, but I have a feeling the SAFU fund will eventually do quite well. Save this tweet and come back later." He did not specify a price target but suggested that long-term Bitcoin holding could yield positive returns.
The conversion comes amid a volatile Bitcoin market. Some users have expressed concerns about concentrating the entire fund in a single asset, but Binance defended the move by citing Bitcoin's long-term stability and liquidity as a reserve asset.