<div id="readability-page-1" class="page"><strong>Binance Bitcoin purchase</strong>: Binance has completed the purchase of 3,600 bitcoin for its Secure Asset Fund for Users (SAFU), spending roughly $250 million in stablecoins as the crypto market reels from sharp price swings. Following the transaction, the fund’s bitcoin address now holds 6,230 BTC, as per a report.<h2>Binance Buys 3,600 Bitcoin (BTC USD) as Crypto Market Volatility Spikes</h2>The move comes after a turbulent week for bitcoin, which rebounded above $70,000 on Friday after plunging to as low as $60,017.60 earlier in the week. Volatility pushed traders toward defensive positioning, with heavy demand for options tied to downside protection. Sean Dawson, head of research at Derive.xyz, said that “Demand for downside protection is extreme,” as quoted by Ts2.tech.<br/><h2><br/>Crypto Market Loses Nearly $2 Trillion Since October Peak</h2>Market anxiety has been building amid broader losses across digital assets. Bitcoin’s drop on Thursday helped erase nearly $2 trillion from the overall crypto market since its early-October peak, as per CoinGecko data.<br/><br/>Also read: Quote of the day by Lady Whistledown: 'The ones we love have the power to inflict the greatest scars, for what thing is more...' - powerful line from Netflix's Bridgerton character Penelope Featherington<h2>$1 Billion in Leveraged Bitcoin Trades Liquidated in 24 Hours</h2>Over a 24-hour period, about $1 billion worth of leveraged bitcoin positions were liquidated as traders were forced out of margin trades, as per the Ts2.tech report. <h2>Fed Policy Fears Weigh on Bitcoin After Kevin Warsh Nomination</h2>Manuel Villegas Franceschi of Julius Baer pointed to concerns over tighter monetary policy expectations following US president Donald Trump’s decision to nominate Kevin Warsh as Federal Reserve chair, saying, “The market fears a hawk with him,” as quoted by Ts2.tech.<br/><br/><h2>Binance Details Plan to Convert $1 Billion SAFU Reserves Into Bitcoin</h2>Binance had outlined its strategy in an open letter dated January 30, announcing plans to convert SAFU’s reserves, then held entirely in $1 billion worth of stablecoins, into bitcoin over a 30-day period. <br/><br/>The exchange said it would replenish the fund back to $1 billion if bitcoin volatility caused its value to fall below $800 million. The company described stablecoins as crypto tokens pegged to assets such as the US dollar.<br/><br/>Also read: BTC USD crash explained: Experts reveal top reasons why crypto market tumbled yesterday and why analysts are starting to buy spot Bitcoin now<h2>Corporate BTC USD Holders Face Pressure as Prices Slide</h2>The latest sell-off has also hit companies that built their business models around holding large crypto treasuries. <p>Strategy, one of the largest corporate bitcoin holders, saw its shares fall as bitcoin declined. Analysts warned that prolonged pressure could make it harder for such firms to raise new capital.</p><p>Strategy reported a wider fourth-quarter loss due to fair-value accounting as bitcoin prices fell. As of February 1, the firm held 713,502 bitcoins purchased at a total cost of $54.26 billion, or $76,052 per coin. Executive chairman Michael Saylor said after earnings that “The actions by big finance, the actions by the big banks and the actions by the financial regulators are the fundamentals,” as quoted by Ts2.tech.</p><h2>Binance SAFU Sparks Talk of a Bitcoin Price Floor</h2>Following the January 29 market drop, Binance’s SAFU strategy has fueled talk of a potential “bitcoin floor,” as the exchange has committed to topping up the fund if its value slips below $800 million.<h2>FAQs</h2><strong>Why did Binance buy 3,600 bitcoin now?</strong><br/>The purchase followed a sharp crypto sell-off and aligns with Binance’s plan to convert SAFU reserves into bitcoin.<p><strong>How much did Binance spend on the bitcoin purchase?</strong><br/>Binance spent roughly $250 million in stablecoins.</p><div><br/><p><em>(You can now subscribe to our Economic Times WhatsApp channel)<br/></em></p></div><br/><em>(You can now subscribe to our Economic Times WhatsApp channel)<br/></em></div>

<p>Binance has purchased 3,600 Bitcoin for its Secure Asset Fund for Users (SAFU), spending approximately $250 million in stablecoins amid significant market volatility. This acquisition increases the fund's total Bitcoin holdings to 6,230 BTC. The crypto market has seen a decline of nearly $2 trillion since early October, with Bitcoin experiencing sharp price fluctuations. Concerns over tighter monetary policy have added to market anxiety, leading to substantial liquidations of leveraged positions. Binance's strategy aims to stabilize its reserves and potentially establish a price floor for Bitcoin.</p>

- Binance has purchased 3,600 bitcoin for its Secure Asset Fund for Users (SAFU), spending approximately $250 million amid recent crypto market volatility.  
- This acquisition brings the total BTC held in the SAFU address to 6,230, following a week where bitcoin fluctuated between $60,017.60 and over $70,000, with increasing demand for downside protection options.  
- Market anxiety has intensified as nearly $2 trillion has been wiped off the overall crypto market since October, and concerns about tighter monetary policy loom, exacerbating downturns for corporate bitcoin holders.

Binance buys 3,600 Bitcoin after crypto sell-off as BTC USD swings wildly