According to the Korea Securities Depository, South Korean retail investors have increased their investment in BitMine stocks, moving away from major U.S. tech companies.
BitMine Stocks Gain Popularity
Since early July, South Korean investors have purchased $259 million worth of BitMine shares, making them the most popular foreign stocks in the country.
Analysis of Interest Shift
The interest in BitMine is driven by local investors' attraction to high-risk, high-reward crypto investments. BitMine recently transitioned to holding assets in ETH, now possessing over $3.6 billion in this cryptocurrency. Additionally, nearly a third of South Koreans are actively participating in the crypto markets.
Future Investment Speculations
Shin Sool-wi, a researcher at the Korea International Finance Center, stated that U.S. tax increases might dampen South Korean investors' interest in overseas assets. However, the recent surge in BitMine stocks may indicate a renewed interest in highly volatile assets.
The current trend among South Korean investors may indicate a shift in focus from traditional stocks to crypto assets, especially in the pursuit of new investment opportunities.
