Bitget to Burn 30 Million BGB Tokens in 2025 to Boost Value

Bitget, a leading cryptocurrency exchange, has announced a significant initiative to enhance the utility and value of its native token, BGB. The exchange plans to burn 30 million BGB tokens, valued at over $120 million, in the first quarter of 2025. This move is part of a new utility-based, on-chain activity-driven burn model designed to reduce the circulating supply of BGB tokens and potentially increase their value.

The new burn mechanism is a strategic shift by Bitget, aiming to create a more sustainable and valuable ecosystem for its users. By reducing the supply of BGB tokens, Bitget seeks to drive demand and potentially increase the token's value. This approach aligns with the broader trend in the cryptocurrency industry, where token burns are often used to manage supply and create scarcity, thereby enhancing the token's value.

The new utility model is expected to incentivize on-chain activities, encouraging users to engage more actively with the Bitget platform. This could lead to increased liquidity and a more robust ecosystem, benefiting both the exchange and its users. The burn will be executed in a transparent and verifiable manner, ensuring that the process is trustworthy and aligned with the interests of the community.

This move by Bitget reflects a broader shift in the cryptocurrency industry towards more sustainable and value-driven token economics. By implementing a burn mechanism, Bitget is taking a proactive approach to managing its token supply and creating a more valuable ecosystem for its users. This initiative is likely to be well-received by the community, as it demonstrates Bitget's commitment to enhancing the value and utility of its native token.

In the first quarter of 2025, around 6,943 BGB were funneled into these accounts. As a result, Bitget plans to burn 30 million BGB, which is valued at over $120 million at current prices. The new method reflects a shift toward a usage-driven approach, aligning token removal with how BGB is actively used across the platform. Bitget aims to adjust supply based on user engagement. CEO Gracy Chen shared her perspective on the update, stating, “Connecting burn volume to real-world token use encourages adoption while keeping the system transparent and better suited for long-term stability.”

The model replaces previous fixed or manual token burn schedules with a system designed to adapt to market usage. Bitget noted that this approach may result in changes in burn volume from quarter to quarter, depending on user engagement. In January 2025, Bitget burned 800 million BGB previously held by its internal team. That move cut the token’s supply from 2 billion to 1.2 billion BGB. The company stated that this burn was part of its long-term strategy to promote sustainable growth and improve supply dynamics.

With the new quarterly model in place, future burns will now reflect actual usage within Bitget’s on-chain products and services. The platform’s recent decision to align token reduction with utility comes as BGB expands its role across various blockchain applications. Bitget has also continued to build its presence in other sectors. It recently became the first crypto exchange to sponsor a driver in the Porsche Cup Brazil 2025, pointing to broader branding efforts beyond trading.