Bitget Protection Fund Value Hits $351M as Bitcoin Gains

The Bitget Protection Fund averaged a value of $351 million throughout July. This increase follows a recovery in the Bitcoin market, which helped push the fund value as high as $365.9 million by the middle of the month. Even at its lowest point in July, the fund held $329.8 million, keeping it comfortably above the original $300 million pledge.

The fund currently holds 5,500 BTC, which served as the primary driver for the valuation growth as Bitcoin prices traded between $59,968 and $66,521 during the period. By maintaining these reserves, the exchange aims to provide a safety net for its users during periods of market volatility.

Bitget created this fund in 2022 to provide an extra layer of security alongside its Proof of Reserves program. According to CEO Gracy Chen, the goal is to build long term trust by keeping reserve data transparent for all platform users. As the exchange adds more financial products to its ecosystem, these safeguards remain a central part of their security strategy.