Bitget Burns 800M BGB Tokens, Cutting Supply to 1.2B

Bitget has burned 800 million BGB tokens to reduces the total supply by 40%, lowering the number of tokens in circulation to 1.2 billion. This will increase the value of BGB, especially with a potential altseason rally in 2025. With this decision, Bitget signals strong confidence in the token’s future and strengthens its position in the crypto market.

Bitget’s Strategic Approach to Boost BGB

The 800 million BGB tokens burned have a value of around $5 billion. To further improve the token’s value, Bitget plans to use 20% of its quarterly profits to repurchase and burn more tokens.

Of the 800 million tokens, 19% came from the core team’s reserves, and 21% from circulating supply. By reducing supply, Bitget aims to increase scarcity, which could potentially lead to higher demand for BGB.

A Brighter Future for BGB

This token burn is just one piece of Bitget’s broader strategy. The exchange plans to integrate BGB with Bitget Pay, Bitget Card, and more PayFi partners. 

These efforts will expand the token’s use in the Web3 ecosystem and make BGB more accessible to everyday users. With over 45 million global users and 60 million Bitget Wallet customers, BGB is poised for mass adoption. 

BGB also provides trading fee discounts and access to rewards from new project launches. After a 300% price increase recently, BGB is showing strong growth and promising potential in the crypto world.