In a significant strategic shift, Binance has indeed completed the conversion of its $1 billion Secure Asset Fund for Users (SAFU) entirely into Bitcoin, holding a total of 15,000 BTC.
This move, finalized on February 12, 2026, marks a reversal of the exchange's previous policy. In April 2024, Binance had converted the fund to 100% USDC to ensure price stability. However, the exchange now cites a long-term belief in Bitcoin as the "premier reserve asset" and a more transparent, verifiable store of value for its emergency insurance fund.
Key Details of the Conversion
Total Holdings: 15,000 BTC.
Valuation: Approximately $1.005 billion (at the time of completion, with an average cost basis of roughly $67,000 per BTC).
Timeline: The plan was announced on January 30, 2026, and was completed in less than two weeks through several batches of purchases and internal reallocations.
Safety Floor: Binance has committed to a "rebalance threshold." If Bitcoin’s volatility causes the fund’s value to drop below $800 million, the exchange will inject additional capital to bring it back up to the $1 billion mark.
Why the Shift?
By moving away from stablecoins, Binance is leaning into the "hard money" narrative of Bitcoin. This decision serves two purposes:
Transparency: On-chain Bitcoin holdings are easily auditable by the public.
Market Signal: The move is widely viewed as a massive vote of confidence in Bitcoin’s long-term price action, especially following the market fluctuations of late 2025.
Note: The SAFU fund is an emergency insurance pool established in 2018 to protect users against extreme situations like security breaches. It is funded by a portion of Binance’s trading fees.