Cryptocurrency exchange Binance has converted its $1 billion U.S. financial safety net into Bitcoin (CRYPTO: $BTC).
Binance, founded by Canadian entrepreneur Changpeng Zhao, had previously held its reserves in stablecoins.
But it has now used the cash to purchase 15,000 Bitcoin valued at $1.005 billion U.S. The world’s largest cryptocurrency is currently trading at $67,700 U.S.
Binance said that the reserves are to protect the exchange and its users from losses caused by unforeseen events such as hacks. Now, the reserves are fully denominated in Bitcoin.
The company has reiterated that it will replenish the reserves if the value drops below $800 million U.S. due to market volatility.
Management at Binance said the conversion was undertaken to reinforce the view that Bitcoin is a long-term reserve asset.
A growing number of companies have adopted Bitcoin as a strategic reserve asset in recent years, shifting portions of their treasuries from U.S. dollars to Bitcoin.
Analysts say the trend reflects a broader institutional acceptance of Bitcoin’s long-term store-of-value amid inflationary pressures and low yields on other assets.
Binance, the largest crypto exchange in the world, is a privately held company and its stock does not trade on a public exchange.
COMTEX_473418590/2797/2026-02-12T18:00:55