Bitget CEO Sees $50,000 as Bitcoin Buying Opportunity

Bitget CEO Gracy Chen expressed skepticism about Bitcoin's (BTC) long-term prospects in an interview. She stated that she would consider buying more BTC if its price falls to $50,000 and mentioned that she personally keeps a significant portion of her investment portfolio in stablecoins.

Chen noted that the current rebound to around $79,000 does not necessarily signal the end of the bear market. In fact, she said she is watching for a potential drop towards $50,000 as a buying opportunity.

When asked about Bitcoin's long-term outlook, Chen cited a pattern of diminishing gains from cycle lows to cycle highs over the historical four-year cycle and expressed skepticism that BTC will reach $1 million by 2030. She also stated that her portfolio is heavily weighted towards Bitcoin and the S&P 500, with altcoins accounting for only a small share.