**Bitget** reported that the average size of the Protection Fund it manages in August reached $382 million. With Bitcoin (BTC) prices showing a clear upward trend in August, the dollar valuation of the reserves the exchange had set aside increased as well.
Bitcoin rally lifts Bitget protection fund valuation
According to the monthly report Bitget recently published, the protection fund peaked at $441.5 million on August 27, after forming a monthly low of $345.3 million on August 1. Bitget holds the fund in the form of 5,500 BTC, and its valuation had never fallen below the initial commitment amount of $300 million.
When converted into day-by-day data, during the month of August the Bitcoin price fluctuated in the range of approximately $62,773 to $80,268. It saw a quiet trend in the early period, but a sharp surge unfolded in the latter half.
From August 1 to 31, the Bitcoin price rose by 25% or more, and accordingly, the protection fund closed out August at around $432 million as of month-end.
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Bitcoin reserves and investor protection strategy
Bitget CEO Gracy Chen emphasized that the need for robust safety measures does not diminish as asset prices rise; rather, the user protection framework must grow along with the exchange’s expansion pace. She noted that continuously disclosing reserves is a “key element in building platform trust.”
The protection fund operates in parallel with Bitget’s own Proof of Reserves system. The company says that through this system, it maintains reserves at a level that always exceeds users’ deposited balances across major assets.
Bitget launched its protection fund in 2022, setting a minimum threshold of at least $300 million. Because the fund is structured to hold reserves in Bitcoin, the dollar-denominated value of the fund has remained closely tied to market prices ever since.
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