Bitget's Chief Executive Remains Skeptical of BTC Surge — Eyes $50K Entry Point
Gracy Chen, CEO of Bitget, expresses doubt about the longevity of Bitcoin's current price surge and plans to acquire additional BTC when it drops to approximately $50,000, potentially in late 2026 or early 2027.
Gracy Chen, the chief executive of Bitget, remains unconvinced that the latest Bitcoin surge to $79,000 signals the conclusion of the bearish market phase.
Chen is maintaining a substantial allocation of her investment portfolio in stablecoins while monitoring for a potential price decline exceeding $25,000 from today's levels as an opportune moment to re-enter Bitcoin positions. "The number I'm personally watching for my Bitcoin buyback price point would be $50K," Chen reveals during an interview on the Trade Secrets show.
However, Chen makes no claims about possessing unique forecasting abilities regarding Bitcoin's famously volatile price trajectory. She acknowledges the possibility that Bitcoin could close out the year with gains of $20,000 above current levels.
"I'm simply running an exchange," Chen says with a laugh. "We don't excel at Bitcoin price predictions. Our strength lies in delivering a trading platform where analysts and traders can execute their strategies," she elaborates.
Chen joins a growing chorus of voices anticipating a potential Bitcoin price correction, notwithstanding the cryptocurrency's impressive 20% gain over the previous seven days.
Michael Terpin, the founder of Transform Ventures, shared with Trade Secrets at the start of August that "additional downside remains ahead of us." According to Terpin's analysis, Bitcoin will eventually decline "66%" from its October 2025 peak of $126,100. "My calculation puts us somewhere in the 40s, which I believe represents our destination," Terpin explains.
Prior to the rally witnessed this week, experienced trader Peter Brandt had similarly predicted Bitcoin's price would find its floor on Oct. 4.
Chen refrains from committing to a specific timeframe for Bitcoin's potential descent to $50,000, though she considers it a probable scenario:
"I'm not suggesting my predictions carry significant weight, but these represent my current personal perspective on the matter. I haven't pinpointed a specific date or month when I expect Bitcoin might reach $50,000. A reasonable guess would be sometime later this year, or perhaps early next year."
Though Chen displays modesty by characterizing herself as "simply running an exchange," such a description hardly captures the full scope of her achievements during her 36 years of life.
Who is Gracy Chen?
Chen's academic journey began with Applied Mathematics studies at the National University of Singapore, later complemented by an MBA from MIT Sloan School of Management.
However, her professional path didn't initially lead to traditional business — that is, unless entertainment industry qualifies. She joined Phoenix TV in 2014 in dual roles as host and producer, where she started participating in financial conferences and conducting interviews with technology executives and business innovators, experiences that would ultimately guide her toward the entrepreneurial world.
During the subsequent years, Chen established two separate ventures. Her initial company, Accumulous, delivered platform-as-a-service offerings for Chinese enterprises, spanning areas such as labor subcontracting and income settlement operations. She then proceeded to create ReigVR in 2017.
Chen's interest in cryptocurrency sparked following an encounter with Tim Draper, the billionaire Bitcoin investor, and members of his cryptocurrency team.
This pivotal meeting steered her toward crypto marketing positions, eventually progressing to the managing director position at Bitget in 2022, followed by her promotion to CEO in 2024.
Gracy Chen is not interested in altcoins
Interestingly, despite overseeing a crypto exchange that lists numerous different tokens, Chen doesn't harbor particular enthusiasm for alternative cryptocurrencies. "The majority of my portfolio consists of either Bitcoin or S&P 500 holdings. My hectic schedule managing a major exchange limits my trading activity," Chen explains.
According to Chen's estimation, "under 1%" of her investment portfolio is allocated to Ethereum and Solana.
Nevertheless, one particular altcoin has captured her attention. "Hyperliquid appeals to me, and I've noticed HYPE has appreciated significantly...attributed to the increasingly crypto-favorable policy environment surrounding them. That's probably the single coin I'm currently optimistic about, particularly if the CFTC successfully creates a pathway for Hyperliquid to access the US market through proper channels," Chen states. President Trump indicated earlier this week that CFTC chair Mike Selig was developing plans to permit Hyperliquid to operate officially within regulated US markets.
Chen openly expresses her disdain for memecoins and maintains strong conviction that another memecoin surge comparable to previous market cycles is unlikely, given that excessive numbers of investors have suffered losses. "Retail investors aren't foolish," Chen asserts.
Gracy Chen does not believe Bitcoin will reach $1M by 2030
Chen also expresses skepticism regarding Bitcoin's potential to hit $1 million by 2030, a topic that has emerged repeatedly on Trade Secrets. Markus Thielen shared similar doubts with the show recently, despite optimistic projections from Brian Armstrong and Cathie Wood.
Chen identifies Bitcoin's progressively declining returns across successive four-year cycles as the primary justification for her skepticism.
"My reasoning stems from observing previous Bitcoin four-year cycles, where the ratio comparing each cycle's all-time high to its all-time low continues to shrink," she explains.