Binance Plans to Buy $1 Billion of Bitcoin

Binance, the largest cryptocurrency exchange, plans to purchase $1 billion worth of Bitcoin (BTC) within the next month as part of its long-term plan to support the cryptocurrency ecosystem.

“We believe Bitcoin is the foundational asset of this ecosystem and the premier long-term store of value,” the company said on X.

The exchange also plans to top up the fund if its market value drops below $800 million post-conversion, according to a blog post.

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