BTC Current Affairs

Bitget CEO: US Buying Bitcoin? Not Happening, Probably

2026-08-22

Gracy Chen, CEO of Bitget, came out this week with a measured take on Bitcoin's prospects for the rest of 2026. And by measured, I mean pessimistic by crypto standards. She's not betting on a moonshot. Macroeconomic headwinds and interest rate uncertainty are her culprits, and she reckons Bitcoin will stay locked in a tight trading range despite the recent bounce.

Speaking on Cointelegraph's Trade Secrets podcast, Chen sounded less like a cheerleader and more like someone who actually has to manage a major exchange. She avoided the kind of bullish forecasting that fills most crypto Twitter feeds. Instead, she delivered what she called a "more responsible" view on near-term price movement.

The specifics: Chen expects Bitcoin to hover around current levels through year-end. Predicting whether it finishes above or below $70,000? She's not touching that. Interest rates loom large in her thinking, as does the broader macroeconomic mess. According to her analysis, macroeconomic uncertainty could pin Bitcoin within $10,000 to $20,000 of where it sits now.

This caution stems from something obvious once you notice it: Bitcoin and traditional finance are no longer strangers. Chen pointed out that digital assets have become deeply integrated with legacy markets, making them sensitive to monetary policy shifts and economic trends in ways they weren't in earlier cycles. When the Fed moves, crypto moves now. That's just how it is.

But the more interesting bit was her take on the US government buying Bitcoin directly. This has become a live debate in crypto circles, especially after President Trump signed an executive order on March 6, 2025, establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile.

Here's the thing though: the US already holds a mountain of Bitcoin. The government sits on 328,372 BTC—roughly 1.5% of all circulating supply. Most of this came from law enforcement seizures and civil asset forfeitures, not deliberate reserve-building. The current Strategic Bitcoin Reserve is effectively just organized chaos from past confiscations.

Chen was blunt about active market purchases. They'd be a fundamentally different move—a real policy commitment requiring actual debate among lawmakers and political parties. She said: "From a policy perspective, it's probably unlikely." And then: "I just don't see it coming right now."

There's real political complexity lurking beneath Trump's crypto enthusiasm. Yes, the Treasury and Commerce Secretaries have authorization to develop budget-neutral strategies for acquiring additional Bitcoin. But authorization is not the same as action. Getting from executive enthusiasm to an actual purchasing program involves legislative hurdles and broader policy friction that sits well outside the crypto orbit.

Chen's skepticism cuts to the heart of crypto's current moment. Policy momentum has shifted. Digital assets are no longer radioactive in Washington. But translating that momentum into actual, ambitious strategic initiatives? That's where institutional reality starts pushing back hard. The gap between what crypto wants and what governments will actually do remains substantial.

Her forecast boils down to this: expect consolidation, not drama. Bitcoin will likely stay in a holding pattern through year-end rather than break decisively higher or lower. The macro crosscurrents are too messy for anything else.

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