In December of last year, the Bitget platform token BGB performed exceptionally well, but it has recently experienced a week-long decline, with its price nearing the plummeting low of $4.8 on February 3. In response, Bitget CEO Gracy Chen articulated four points explaining the reasons for holding BGB and revealed that a major exchange might be selling off.
(Background recap: BGB’s price halved and then rebounded! Bitget Exchange responds: Full compensation to users within 72 hours)
(Background information: Bitget announced a “BGB Token Burn Plan” valued at over $5 billion, with a new white paper officially released)
The Bitget platform token BGB soared from $1.5 to $8.5 in December of last year, becoming one of the best-performing tokens in the market at that time. This year, while BGB has not surpassed its previous high, its price has remained consolidated within the range of $5.5 to $8. However, this consolidation seems to have been broken recently. Since February 11, BGB has entered a prolonged decline, dropping from a high of $6.5 to a low of $4.811 today, representing a decline of 26%. Currently, BGB is priced at $4.196, with a nearly 24-hour drop of 7.36%.
Compared to other tokens in the market, this decline appears unusual, as during the crash on February 3, BGB’s lowest price only reached $4.8.
Bitget CEO: Hold assets that allow you to sleep comfortably
Against this backdrop, Bitget CEO Gracy Chen tweeted on the 15th, suggesting that investors should hold assets and proportions that allow them to sleep comfortably. She shared investment principles she concluded after experiencing setbacks, seemingly to remind investors not to let token prices affect their mindset:
A few days ago in an interview with CNBC, I mentioned: “I only want to hold assets that allow me to sleep soundly.”
Here are some investment principles I summarized after encountering pitfalls recently:
Do not touch meme coins.
Do not use leverage.
Even if you are optimistic about the fundamentals, wait for the right price; it is better to miss out than to buy at a bad price.
Besides cryptocurrencies, there are many quality assets and Beta opportunities globally:
– China: construction industry, manufacturing going overseas, semiconductors
– USA: AI, data security, cybersecurity, consumer goods (US stocks may have corrections; consider buying at dips)
If there are truly no opportunities, putting funds in fixed deposits for a guaranteed 5% return is also a good choice.
Do not be a gambler; be a true investor.
However, amidst the continued decline of BGB, users have expressed sentiments such as: “BGB’s recent drop is keeping me awake” and “I can’t sleep with my BGB holdings.”
A few days ago in an interview with CNBC, I mentioned: I only want to hold assets that allow me to sleep soundly. Here are some investment principles I’ve summarized after my recent mistakes:
Do not touch meme coins.
Do not use leverage.
Even if you are optimistic about the fundamentals, wait for a low price; if there is no suitable price, it is better to miss out.
Besides cryptocurrencies, there are many quality assets and Beta opportunities globally:
– China’s construction and manufacturing going overseas, semiconductors
– …
— Gracy Chen @Bitget (@GracyBitget) February 15, 2025
Bitget CEO: I’ve heard that a major exchange is offloading assets
In response to numerous comments in the message section stating “I can’t sleep with my BGB,” Gracy Chen also expressed four reasons today (the 16th) for “holding BGB allows for sleep.” She stated:
Unified response regarding BGB. My BGB is all purchased on the market (except every year the company distributes tokens worth $5,000 to old employees and for other reasons, which can be disregarded for holding), I sleep well holding BGB because:
At this moment, the price of BNB at $660 corresponds to an FDV of $96 billion, HYPE at $25.9 corresponds to an FDV of nearly $26 billion, and BGB at $5.03 corresponds to an FDV of $6 billion, which is not expensive compared to CEX or DEX;
The fundamentals have not changed; in 2025, our team will help everyone acquire quality projects and tokens, while I am also leading the team in expanding institutional business. Our burn and repurchase plans are all proceeding as promised.
I have heard that a major exchange is selling; if they really are offloading, it is likely to develop like the old Huobi and focus on existing users. This will provide opportunities for other exchanges to capture more market share. Bitget has no plans to sell; my team and I are diligently working.
Citing @realshennan’s perspective, a healthy pullback is necessary. (Original statement: The largest historical pullback of BGB was about 44% over three months last year; it dropped from 1.4 to 0.8, and now with BGB starting at 8, it has pulled back to 5, although it cannot be directly compared, if one wishes to enjoy BGB’s short-term sevenfold increase from 1 to 7.5 (only spot), then even a pullback of around 50% from 7.5 should be expected and mentally prepared for.)
Unified response regarding BGB. My BGB is all purchased on the market (except for the annual distribution of tokens worth $5,000 due to old employees and other reasons, which can be disregarded for holding), I sleep well holding BGB because:
1. At this moment, the price of BNB at $660 corresponds to an FDV of $96 billion, HYPE at $25.9 corresponds to an FDV of nearly $26 billion, and BGB at $5.03 corresponds to an FDV of $6 billion, which is not expensive compared to CEX or DEX;
— Gracy Chen @Bitget (@GracyBitget) February 16, 2025
