en.bitcoinsistemi.com
Binance, the world’s largest cryptocurrency exchange, completed its $1 billion move as Bitcoin ($BTC) continued to experience consecutive declines.
At this point, Binance SAFU completed its final $300 million purchase, finalizing its $1 billion $BTC conversion.
According to Arkham tracking data, Binance’s Secured Asset Fund for Users (SAFU) purchased an additional 4,545 $BTC, worth $300 million. This transaction completes the exchange’s previously announced plan to gradually restructure the fund’s assets by converting $1 billion worth of stablecoin holdings into Bitcoin.
The SAFU fund now holds 15,000 $BTC, worth $1.005 billion.
At this point, Binance SAFU’s average $BTC purchase price is estimated to be around $66,600.
According to on-chain analyst ai_9684xtpa, the average purchase price for the 15,000 $BTC bought by Binance SAFU is estimated to be $66,666.66.
The fund invested approximately $1 billion to purchase these $BTC between February 4th and February 12th. The highest price SAFU paid during this period was $76,580, while the lowest was $64,824, with the analyst noting that the number six is considered lucky in China.
“…Binance SAFU Fund completed its latest purchase of 4545 $BTC, worth approximately $300 million, two hours ago. This brings its total purchases between February 2nd and February 12th to 15,000 $BTC. Based on a total investment of $1 billion, the average cost is approximately $66,666.66. Wow, what a fortunate figure…”
However, this investment does not appear to have had a significant impact on the price of Bitcoin.
*This is not investment advice.