Bitget Protection Fund Tops $382M Average Valuation As Bitcoin Rallies

Cryptocurrency exchange Bitget reported that its dedicated Protection Fund achieved an average valuation of $382 million during August, driven largely by a sharp price recovery in Bitcoin. The reserve opened the month at a low of $345.3 million before climbing to a peak of $441.5 million on August 27, consistently holding above Bitget's baseline commitment of $300 million. A primary catalyst for the fund's capital expansion was its reserve backing of 5,500 BTC. Bitcoin demonstrated strong momentum in the second half of the month, rising from an opening level of $62,773 to surpass $80,000 before finishing August at $78,553, marking a monthly price increase exceeding 25%. As a result, the fund concluded August with a dollar valuation of approximately $432 million. Bitget CEO Gracy Chen noted that maintaining visible, substantial reserves remains vital for platform trust even during bullish market conditions. Bitget operates the Protection Fund as a standalone safety buffer separate from its Proof of Reserves system.