Binance has executed the first Bitcoin purchase under its newly announced $1 billion SAFU conversion plan, acquiring 1,315 BTC, valued at approximately $100.7 million.

The purchase, coming just days after the repurposing of its SAFU fund to a Bitcoin reserve, comes as markets struggle through another bout of heavy selling pressure.

Binance Makes a $100 Million Move That Looks a Lot Like Central Bank Intervention

On February 2, on-chain data confirmed that the Binance SAFU Fund address received 1,315 BTC worth $100.7 million.

It marks the first completed tranche of the exchange’s plan to convert its Secure Asset Fund for Users from stablecoins into Bitcoin over a 30-day period.

Binance later confirmed the transaction, stating that $100 million in stablecoins had been converted and that further BTC acquisitions would follow until the full $1 billion target is reached.

While Binance did not explicitly describe the move as a market intervention, the timing is indeed consequential. It comes as Bitcoin price remains in murky waters, trading below the psychological $80,000 threshold.

“I am always surprised that those who have the most to lose by a falling bitcoin ($80,000 line in the sand) don’t defend it over the weekend,” remarked Jim Cramer, host of CNBC’s Mad Money.

Indeed, Bitcoin suffered a brutal weekend, revealing a deep market divide between opportunity and structural vulnerability.  

Against this backdrop, some analysts liken the SAFU conversion to central bank-style interventions in TradFi. As it happens in traditional finance, institutions deploy reserves to stabilize confidence during periods of stress.

Key past examples include:

The structure has fueled speculation that Binance is effectively committing to sustained dip-buying.

“Binance’s latest announcement confirms they have already purchased $100 million worth of Bitcoin from the market, with $900 million still to go,” analyst AB Kuai Dong noted.

He added that the fund’s rebalancing rule could amplify the impact. If Bitcoin prices fall far enough to push SAFU’s value below its floor, Binance would be required to purchase additional BTC to restore the fund’s value.

A Soft Bitcoin Backstop Emerges as Binance, Saylor, and Whales Accumulate

Under the SAFU framework, the fund is monitored continuously. If Bitcoin price declines erode its value beyond predefined levels, Binance must replenish it. That dynamic could act as a soft backstop during periods of heightened volatility.

On-chain signals suggest Binance may be preparing for further accumulation. Earlier in the day, the SAFU address initiated authorization transactions to add new recipient addresses to its whitelist.

This move is often associated with operational preparation for additional asset transfers.

The purchase also comes amid renewed signals of confidence from other large Bitcoin holders. Just one day earlier, Strategy executive chair Michael Saylor posted a cryptic “More Orange” message on X (Twitter), widely interpreted as a hint that another Bitcoin acquisition may be imminent.

The post arrived despite MicroStrategy shares falling sharply in recent sessions and Bitcoin briefly dipping near the company’s average cost basis.

Taken together, these moves strengthen the narrative that deep-pocketed players are attempting to stabilize the market organically rather than through coordinated action.

Will this emerging support translate into a durable price floor near the $75,000?

Still, with $900 million in SAFU conversions yet to be executed, Binance has positioned itself as one of the most significant near-term sources of structural Bitcoin demand.