Binance, the largest cryptocurrency exchange in the world, has completed a fundraising deal of 1 billion dollars as Bitcoin continues to decline consecutively. As of now, Binance SAFU has completed the final purchase transaction worth 300 million dollars, concluding the process of converting 1 billion BTC.
According to tracking data from Arkham, Binance's User Asset Protection Fund (SAFU) has purchased an additional 4,545 BTC, worth 300 million dollars. This transaction completes the plan previously announced by the exchange to gradually restructure the fund's assets by converting stablecoins worth 1 billion dollars into Bitcoin.
The SAFU fund is currently holding 15,000 BTC, worth $1.005 billion.
Currently, the average purchase price of BTC on Binance SAFU is estimated to be around $66,600.
According to on-chain analyst ai_9684xtpa, the average purchase price for the 15,000 BTC acquired by Binance SAFU is estimated to be $66,666.66.
This fund has invested approximately $1 billion to purchase this amount of BTC from February 4 to February 12. The highest price that SAFU paid during this period was $76,580, while the lowest price was $64,824, and the analyst noted that the number six is considered lucky in China.
“…The Binance SAFU fund has completed its latest purchase transaction of 4545 BTC, worth approximately $300 million, two hours ago. This brings the total amount of BTC that the fund has purchased from February 2 to February 12 to 15,000 BTC. Based on a total investment of $1 billion, the estimated average price is around $66,666.66. That's amazing, a lucky number…”
However, this investment does not seem to have a significant impact on the price of Bitcoin.
