Bitget CEO Gracy Chen does not see Bitcoin’s latest climb to $79,000 as proof that the bear market is over. Instead, she said she would rather wait for a much deeper pullback and is watching the $50,000 area as a personal level to buy more BTC.
Speaking on the Trade Secrets show, Chen said a significant share of her portfolio is currently parked in stablecoins while she looks for a drop of more than $25,000 from current levels. 「I would say $50K is the number that I’m looking at for my personal Bitcoin buyback sort of price,」 she said.
At the same time, Chen did not present that view as a firm forecast. She said she does not have any special insight into where Bitcoin may go next and added that the asset could still end the year $20,000 higher.
「I’m just an exchange CEO,」 Chen said with a laugh. 「We are not good at analyzing Bitcoin price. We’re just good at providing a trading platform for all the analysts and traders to trade.」
Her stance comes even as Bitcoin has risen more than 20% over the past week. The report noted that Chen is not alone in expecting a possible move lower from here.
Transform Ventures founder Michael Terpin told Trade Secrets at the beginning of August that 「we still have more pain to go.」 Terpin said Bitcoin could eventually fall 「66%」 from its October 2025 all-time high of $126,100. 「I think that brings us down into the 40s, and I think that’s about where we’re gonna go,」 he said.
Before this week’s rally, veteran trader Peter Brandt had also said Bitcoin could find a bottom on Oct. 4.
Chen did not give a fixed timeline for a move to $50,000, saying only that she sees it as a likely scenario, with the article noting she aims to buy more BTC around that mark later in 2026 or early next year.
Who is Gracy Chen?
While Chen played down her role by calling herself 「just an exchange CEO,」 the article outlined a broader career path.
She studied Applied Mathematics at the National University of Singapore and later earned an MBA from the MIT Sloan School of Management.
Her early career did not start in business. In 2014, she joined Phoenix TV as a host and producer. During that period, she attended financial events and interviewed technology and business leaders, experiences that later pushed her toward entrepreneurship.
Over the following years, Chen founded two companies. The first was Accumulous, which offered platform-as-a-service solutions for businesses in China, including labor subcontracting and income settlement. In 2017, she went on to launch ReigVR.
Her interest in crypto began after a meeting with billionaire Bitcoin investor Tim Draper and his crypto team.
That led her into crypto marketing roles. She later became Bitget’s managing director in 2022 and took the CEO job in 2024.
Little interest in altcoins
Even though she runs a crypto exchange that lists many tokens, Chen said she is not especially drawn to altcoins.
「Most of my portfolio is in either Bitcoin or the S&P 500. I don’t trade that much because of my busy schedule running a large exchange,」 she said.
She estimated that Ethereum and Solana make up 「less than 1%」 of her portfolio.
There is one altcoin she singled out positively. 「I do like Hyperliquid, and I think HYPE also went up a lot…because of the more crypto-friendly policy towards them. So that’s probably one coin that I’m bullish on right now, especially if CFTC really finds a way to let Hyperliquid enter the US market properly,」 Chen said.
The report added that US President Donald Trump said this week that CFTC chair Mike Selig was working on allowing Hyperliquid to officially trade in regulated US markets.
Chen was also blunt about memecoins. She said she does not expect another memecoin season like those seen in previous cycles because too many investors have been burned. 「Retails are not stupid,」 she said.
Why she doubts $1 million by 2030
Chen also said she does not believe Bitcoin will reach $1 million by 2030. The article said the question has become a recurring topic on Trade Secrets. It also noted that Markus Thielen recently told the show that the target looks unlikely, despite bullish calls from Brian Armstrong and Cathie Wood.
Chen tied her skepticism to falling returns across Bitcoin’s four-year cycles.
「The reason being if you look at the past four-year Bitcoin cycles, the ratio of the all-time high in that cycle to the all-time low in that cycle keeps decreasing,」 she said.