BINANCE BUYS THE BTC DIP ๐ฅ
Binance has purchased 1,315 BTC (worth 100million USD) for the purpose of converting its Secure Asset Fund for Users (SAFU) from stablecoins into Bitcoin.
The exchange plans to complete the full $1 billion conversion within 30 days. A move to position BTC as the new insurance reserve for users in case of hacks or extreme losses.
INITIAL PURCHASE:
-1,315 BTC acquired at an average price of ~$77,400 per coin. ๐ฅ
-Transaction value: ~$100 million USDT. ๐ฅ
CONVERSION PLAN:
-Total target: $1 billion USDT worth of BTC. ๐ฅ
-Timeline: 30 days from the January 30 announcement. ๐ฅ
The first step has been executed & the remaining ~$900 million will follow. ๐ฐ๐ฐ๐ฐ
@BNB777PABLO ๐ฅ
@Binance South Africa Official ๐ฅ
@Trend Coin Tasks ๐ฅ
$BTC SENTIMENT AMONG BINANCES COMMUNITY: