Binance SAFU Fund Successfully Buys the Dip, Holding 10,455 BTC with Approximately 1% Unrealized Gain

BlockBeats News, February 9th, the Binance SAFU Fund address successfully "bought the dip" and turned a loss into a profit. In the recent four Bitcoin purchases, a total of $734.09 million was spent (calculated at the price at which the BTC was transferred to the SAFU Fund). The current holding of 10,455 BTC is worth $741.39 million, with a paper profit of about 1%, approximately $7.3 million.

On January 30th, Binance announced that it would gradually convert its original $1 billion stablecoin reserves into Bitcoin, with the plan to complete this within 30 days. If the market value falls below $800 million due to price fluctuations, BTC will be added to restore the value to $1 billion.