I'm about to expose the BitGet token and exchange and give you a price prediction they absolutely don't want you to see. I'm doing this because I love y'all, and I'm tired of seeing my friends, my neighbors, and my fellow humans on this planet getting tricked into investing in worthless crap like this. To me, this token is an example of everything that's wrong with crypto. Was that laying it on too thick? Maybe. But I'm out here just being honest. I don't get paid anything for telling you this. I just want you to really think about what you're investing in.
I've been in crypto for 11 years. I've researched thousands of altcoins. In my opinion, this one is an absolute trash coin. It's trending today on CoinMarketCap, and I hadn't reviewed it yet when I started looking. So let's look at the fundamentals of what this actually is. This is a centralized exchange coin. In my experience, centralized exchanges are everything that's wrong with crypto. It's a bunch of people putting all their money into the same small set of addresses and letting a handful of people control massive amounts of wealth. That defies the entire reason I was excited about crypto when I came in 11 years ago.
Centralized exchanges defeat the whole point of crypto
The idea with crypto is that you and I can transact without a third party involved. Centralized exchanges are a third party. From what I've seen, roughly 99% of crypto transactions take place on an exchange like BitGet, and that's where all the market manipulation happens. I don't know exactly which centralized exchanges it happens on. But what I can tell you is that an exchange is the best place to manipulate prices up, to suppress prices like ICP down, to steal users' money, and to do all kinds of disgusting things in secret while you don't actually have any of the money until you take it off the exchange or put dollars in your bank account.
Crypto exchange tokens are, to me, one of the absolute worst things you can invest in. It's like you're investing in your own destruction. You're investing in things like the Bybit hack happening, and that easily could happen to BitGet too. So in my view, the time to exit something like this is now. The price is at or pretty close to all-time highs for the coin. But if you look into the fundamentals, this is an ERC-20 token, and there are only 19,000 holders of the token on the blockchain. To me, that is shockingly horrible.
This is an ERC-20 token that probably costs you five to twenty dollars just to withdraw off an exchange. So almost everybody holding the BitGet token is sitting on a centralized exchange while that exchange sits on all the tokens. Only 19,000 unique holders is horrible. That's almost absolute centralization. And if you look at the token holders chart, the top 100 holders have 99.92% of the supply. Now, I know this includes the burn supply, but how crappy is it that you have to release a token and then burn a bunch of it just to try and get people excited in the first place? If you expand to the top 500 holders, it doesn't get much better. In my opinion, this coin is disgustingly centralized.
The token gives you zero ownership of the exchange
But here's the real problem. If this were a stock, I might feel differently, because a stock can carry ownership by law. And if you have ownership by law, there is some tangible, real value there. But when you're investing in the BitGet token, which I hope you're not, you're holding something that has no legal ownership over the BitGet exchange. Do you understand this key point? The BitGet token is an ERC-20 token that has zero ownership over the BitGet exchange, by law or by code. That means the token could easily go to zero while the exchange makes a fortune.
These centralized exchanges, over and over again, go down, suspend withdrawals, and do all kinds of dishonest things in the background. Look at Binance: the BNB token has made CZ one of the richest people on earth. I bought the BNB token before, and I feel like an absolute fool for having done it. The best thing I did was sell the BNB token.
This token has a price chart that people like to see, but its fully diluted market cap is actually bigger than that of the best technology in crypto. In my opinion, there's no way that holding this token gives you a better return than holding Internet Computer Protocol. Plus, think about what you're actually investing in. If you're holding the BitGet token, I believe you are funding centralized oppression and control of people on earth, the same as you are when you hold Binance. When you fund this token, you're giving a very small group of people a huge amount of wealth for doing almost nothing useful for humanity, except swapping a bunch of worthless altcoins in a very centralized, Web2-based environment where most of the transactions don't even move any crypto on the blockchain. To me, you are sabotaging crypto by investing in something like this.
Why an exchange like this has a motive to suppress ICP
By contrast, Internet Computer has a smaller market, and it is possible that BitGet is participating in keeping Internet Computer suppressed. Now, I can't have any evidence of that, because only the insiders would be able to see it. But some of these exchange tokens have a lot to lose if Internet Computer comes out here as a world computer and eliminates the need for centralized exchanges. So BitGet has a lot to lose from ICP pumping, and they've got ICP right there on their exchange. Why couldn't they, if they felt like it, artificially suppress the price and sell fake ICP? Why couldn't they sell double, triple, 10x the real supply, sell Bitcoin, and print as much of it as they wanted?
We know that centralized exchanges have been doing a lot of this, and many of them have collapsed, but most of them have gotten away with it. The question is, we don't know what BitGet is doing in the background, and we have no way of getting that kind of transparency. So in my view, investing in this token is absolutely insane, because it's very high risk and very low potential reward.
An exchange that bans the US, and the influencer machine behind it
Now let's look at the actual website. In the US, when I go to bitget.com, it puts up a block saying I'm using it from a restricted IP. So if you're in the USA, investing in this is, to me, absolutely beyond insane. And for the rest of the world, do you want to hold a token for an exchange that doesn't even allow people from the US to use it? What kind of exchange is afraid of people from the United States, operating in a way where they're afraid of the legal consequences of letting US users on? This is not something I would want to participate in. As a US person, I see no reason you should hold this, and even outside the US, you might want to think hard about it.
If you look at their account on X, they have millions of followers, which they've basically been able to buy by making huge profits off all these users, giving them coins, giving them money, and then trading all of that. And what are they doing with it? They're putting BitGet on soccer jerseys. They're sponsoring soccer, football for some of you. They're taking all this money and just promoting BitGet. But you know what that doesn't do? That does not promote the token directly. It promotes their exchange.
Then you've got all these people shilling BitGet. They're paying crypto influencers who don't seem to care at all about the fate of their audience. You know how much money I could get to push BitGet? I could probably make millions more dollars if I pushed BitGet on you and told you to sign up there, like these other crypto influencers do. I get nothing from telling you this looks like a horrible investment. The only reason people are all using these exchanges is because influencers they've trusted, which wasn't a good idea to begin with, have pushed BitGet on them.
The greater fool game and the Pi airdrop
Then look at this. They're talking about a Pi airdrop. I did a review recently on Pi, and in my opinion it's one of the most disgusting things I see in crypto right now: drastically overvalued, a five-year-long project, junky technology, and a poor user experience. This is the crypto matrix. They're working together to rip you off. They're asking people to deposit Pi to get an airdrop. This is just the greater fool, over and over again. They're getting paid to put you in a position to leave your money on their exchange, where I believe they rip you off.
Understand that the main place people lost money in crypto is on crypto exchanges like BitGet. Just putting tokens on there, putting money on there, trading all of it, price goes up, price goes down, getting wrecked in fees in both directions, and then getting wrecked buying junk that goes to zero.
So to me, there's absolutely no reason at all to hold the BitGet token. Even if I used the exchange every day, I would not hold the token. Sure, they give you an incentive, a little reduction in trading fees. But maybe, instead of trading every day, you should find something better to do with your life, like invest in a crypto with real technology. For me, that's Internet Computer. I don't care about anything except the technology, and in my opinion Internet Computer has by far the best technology anywhere in crypto. It's not even close. I don't believe there's anything within five years of catching Internet Computer's technology. So I don't see why you'd sit there and trade junk coins, hoping to get rich off other people's foolishness on an exchange. This looks horrible to me.
I care about helping you not get ripped off, protect your wealth, and make investments that make this a better planet, not ones that just make other people rich while putting you in a position to get ripped off. If you want to go deeper on how I think about protecting and growing your money, you can explore my Money playlist.