Despite falling more than 80% from its July peak, BitMine shares, listed in the US, remain one of the most favored foreign stocks among South Korean investors this year.
According to Bloomberg, interest remains high despite sharp price fluctuations, with large Capital inflows from South Korean individual investors and leveraged ETFs related to BitMine.
- BitMine has fallen more than 80% from its July peak but is still attracting significant South Korean investment.
- By 2025, BitMine will rank second in popularity among foreign stocks, after Alphabet.
- South Korean investors poured a net $1.4 billion; the related 2x ETF has fallen approximately 86% from its September peak.
Why is BitMine still sought after despite its sharp price drop?
BitMine remains among the most heavily held foreign stocks by South Korean investors, even though the stock has fallen more than 80% from its July peak.
Data shows that by 2025, BitMine will rank second in popularity among South Korean investors' foreign stock portfolios, second only to Alphabet. This reflects sustained demand from individual investors, even after significant price corrections.
The company is backed by billionaire Peter Thiel and run by Wall Street strategist Tom Lee. The market is still betting on BitMine's Ethereum hoarding strategy logic, and belief in this logic is described as unshakeable.
South Korean capital flows and the decline in leveraged ETFs.
As of December 29th, South Korean retail investors had invested a net $1.4 billion in BitMine by 2025; and also poured $566 million into the BitMine 2x leveraged T-Rex ETF.
Notably, the BitMine 2x leveraged T-Rex ETF has fallen approximately 86% from its September peak. Despite the sharp decline in leveraged assets, total Capital inflows remain substantial, indicating a high level of risk tolerance and expectations for BitMine's cryptocurrency-related strategy.
