In December of last year, the Bitget platform token BGB performed exceptionally well; however, it has recently experienced a week-long decline, with its price approaching the significant drop of $4.8 on February 3. In response, Bitget CEO Gracy Chen articulated four points justifying why one might hold BGB, revealing that a major exchange might be unloading its holdings.
(Background summary: BGB token price halved and then rebounded! Bitget exchange responds: Full compensation to users within 72 hours)
(Additional context: Bitget announces a “BGB Token Burn Plan” valued at over $5 billion, with a new white paper officially released)
During December of last year, Bitget’s platform token BGB surged from $1.5 to $8.5, becoming one of the top-performing tokens in the market at that time. Although BGB has not surpassed its previous high this year, its price has remained in the range of $5.5 to $8.
However, this consolidation range seems to have been broken recently. Starting from February 11, BGB began a prolonged downward trend, dropping from a high of $6.5 to a low of $4.811 today, reflecting a decrease of 26%. As of now, BGB is priced at $4.196, with a nearly 24-hour drop of 7.36%.
Compared to other tokens in the market, this decline seems unusual, as the lowest price of BGB during the crash on February 3 only reached $4.8.
Bitget CEO: Hold assets that allow you to sleep comfortably
In this context, Bitget CEO Gracy Chen tweeted on the 15th, emphasizing the importance of holding assets and proportions that allow one to sleep comfortably, sharing investment principles she has concluded after encountering pitfalls, seemingly aiming to remind investors not to let token prices affect their mindset:
In a recent interview with CNBC, she mentioned: “I only want to hold assets that allow me to sleep soundly.”
Sharing some investment principles I concluded after my recent pitfalls:
Avoid meme coins.
Do not use leverage.
Even if you are optimistic about the fundamentals, wait for the right price; it’s better to miss out than to buy at a poor price.
Besides the crypto space, there are many quality global assets and Beta opportunities:
China: Construction, manufacturing going overseas, semiconductors
United States: AI, data security, cybersecurity, consumer goods (U.S. stocks may correct, buy on dips)
If there are truly no opportunities, placing funds in a fixed deposit for a guaranteed 5% return is also a good option.
Don’t be a gambler; be a true investor.
However, amid the continuous decline of BGB, users have expressed sentiments such as: “BGB’s recent decline is keeping me awake” and “I can’t sleep holding BGB.”
A few days ago in an interview with CNBC, she mentioned: “I only want to hold assets that allow me to sleep soundly.”
Sharing some investment principles I have also concluded after my recent pitfalls:
Avoid meme coins.
Do not use leverage.
Even if you are optimistic about the fundamentals, wait for the right price; it’s better to miss out than to buy at a poor price.
Besides the crypto space, there are many quality global assets and Beta opportunities:
– Construction, manufacturing going overseas, semiconductors in China
– …
— Gracy Chen @Bitget (@GracyBitget) February 15, 2025
Bitget CEO: I heard a major exchange is unloading
In response to numerous comments in the message section like “I can’t sleep holding BGB,” Gracy Chen also expressed four reasons for “being able to sleep while holding BGB” today (the 16th), stating:
I would like to address all inquiries regarding BGB. My BGB are all acquired from the market (except for a small amount that the company distributes each year for reasons related to former employees or other factors, which is negligible for my holdings). I can sleep soundly holding BGB because:
At this moment, the price of BNB at $660 corresponds to an FDV of $96 billion, the price of HYPE at $25.9 corresponds to an FDV of nearly $26 billion, and the price of BGB at $5.03 corresponds to an FDV of $6 billion, which is not considered expensive when compared to CEX or DEX;
The fundamentals remain unchanged. By 2025, our listing team will help everyone access more quality projects and tokens, and I am leading my team to expand institutional business. Our buyback and burn plans are all proceeding as promised.
I have heard that a major exchange is selling recently; if they indeed sell, it is likely to continue to develop like the old Huobi to serve existing users. This will provide other exchanges with more opportunities to gain market share. Bitget has no plans to sell; my team and I are diligently working.
Citing @realshennan’s perspective, healthy pullbacks are necessary. (Original statement: The largest historical pullback for BGB occurred last year, with a 44% decline over three months from 678; it dropped from 1.4 to 0.8. Now that BGB, starting at 8, has pulled back to 5, though not directly comparable, one should be prepared psychologically for a 50% pullback from the previous peak of 7.5, especially considering the seven-fold increase in the short term from 1 to 7.5 (only spot trading).)
I would like to address all inquiries regarding BGB. My BGB are all acquired from the market (except for a small amount that the company distributes each year for reasons related to former employees or other factors, which is negligible for my holdings). I can sleep soundly holding BGB because:
1. At this moment, the price of BNB at $660 corresponds to an FDV of $96 billion; the price of HYPE at $25.9 corresponds to an FDV of nearly $26 billion; and the price of BGB at $5.03 corresponds to an FDV of $6 billion, which is not considered expensive when compared to CEX or DEX;
…
— Gracy Chen @Bitget (@GracyBitget) February 16, 2025
