CryptoBitget CEO Gracy Chen weighs in

Bitget CEO Gracy Chen weighs in

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Bitcoin has been struggling, recently hitting a low of $95,000. Investors are now looking for the next major catalyst that could drive the cryptocurrency market forward. 

Bitget CEO Gracy Chen, in a conversation with Bloomberg, shared her insights on potential catalysts to reverse Bitcoin’s slumping price action. Chen pointed out that one major factor could be the new U.S. administration under President Donald Trump. She mentioned that discussions are ongoing, but “nothing is concrete” regarding the inclusion of Bitcoin in the country’s strategic reserve.

She said the administration is “still debating whether and how” Bitcoin (BTC) can be included in the strategic reserve. While discussions are underway, Chen cautioned that expectations should remain measured. She said:

“I didn’t expect Bitcoin’s inclusion in the strategic reserve to become concrete in the first half of 2025—or even throughout the year.”

Macroeconomic factors

When asked about previous catalysts, such as the 2024 Bitcoin halving as a major driver, she said it was not meant to be a catalyst “because it’s already priced in.” The halving was a “very expected event” while “unexpected” events are the catalysts to lift Bitcoin’s price.

Notably, she believes that macroeconomic conditions, not excessive Bitcoin purchases from the likes of Strategy and others, will play the biggest role in Bitcoin’s future. She pointed to potential U.S. interest rate cuts and broader fiscal policies. She said:

“Another key factor the industry is watching is when the U.S. will start cutting interest rates and whether we’ll see more fiscal and monetary loosening.”

Chen on Musk and Trump

Chen also acknowledged concerns about over-reliance on political promises to drive Bitcoin’s growth. She highlighted how figures outside traditional politics, such as Elon Musk, have played a significant role in moving crypto markets.

“One example I want to bring up is Dogecoin. Dogecoin’s price has largely been influenced by Elon Musk, who is more of a businessman than a politician,” she said.

In her view, Trump also shares some of these traits:

“Personally, I think Donald Trump is also more of a businessman than a politician—though he is, of course, both. But as a business leader, I believe entrepreneurs like Elon Musk and even Trump can drive more change than traditional politicians.”



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