In this file photo, an electronic signboard at a cryptocurrency exchange in Seoul shows the price of bitcoin having risen to 101.27 million won (US$77,181) during a trading session on March 13, 2024. (Image courtesy of Yonhap)
SEOUL, March 30 (Korea Bizwire) — The number of virtual asset investors in South Korea has surpassed 16 million, drawing close to overtaking the number of stock investors in the country, data showed Sunday.
A total of 16.29 million people had accounts at the top five domestic virtual asset exchanges — Upbit, Bithumb, Coinone, Korbit and Gopax — as of late February, according to data submitted to Rep. Cha Gyu-geun of the minor opposition Rebuilding Korea Party. Those who owned multiple accounts at different exchanges were only counted once.
Simply put, nearly 32 percent of the country’s population was participating in the cryptocurrency market.
The number of crypto investors exceeded the 14 million mark for the first time in March 2024 before over 500,000 people newly entered the market in November with the election of U.S. President Donald Trump, surpassing the 15 million mark.
Some industry officials expect the number of cryptocurrency investors will soon reach 20 million, given the continuing upward trend this year.
A photo of the stock market provided by Getty Image Bank Korea (Yonhap)
“Some believe the crypto market has reached a saturation point, but there is still an endless possibility for growth compared with the matured stock market,” an industry official said.
(Yonhap)
