Young investors flood into crypto market, wealth surges
The wealth of South Korea's younger generation is growing rapidly, driven by the cryptocurrency craze. According to local media (Mainichi Business News), a study jointly conducted by South Korean cryptocurrency exchanges Upbit and Bithumb showed that the number of individuals holding crypto assets worth more than 1 billion won (approximately US$750,000) in South Korea has reached 3,759 people. Among them, there are about 185 investors between the ages of 20 and 29. These young crypto billionaires hold an average of about 5.2 billion won (about 3.9 million U.S. dollars) in crypto assets.
Experts analyze that the wealth accumulation of these young investors may be due to their strategic investment decisions in the crypto market and the diversified allocation of inherited wealth. With the popularity of cryptocurrency, more and more young Koreans see it as an opportunity to quickly add value. They actively participate in transactions and make considerable profits amid market fluctuations.
The report also noted that the largest age group holding more than 1 billion won in crypto assets is those between 40 and 49 years old, with a total of about 1,297 people. However, investors over the age of 50 hold the largest total amount of cryptocurrencies, demonstrating the important role of middle-aged and older investors in the market.
Further reading
(Squid Game) comes true? 40% of South Korean college students rely on currency speculation to pay off their debts. Are young people about to be unable to hold on?
Korean girls love speculating on coins! The proportion of users exceeds that of other regions, and the demand for instant wealth drives the market?
Policy support and market environment boost crypto investment craze
The increase in the number of cryptocurrency holders in South Korea is closely related to the country’s policy environment committed to supporting the encryption industry. South Korea has recently passed a series of new regulatory measures and innovative initiatives aimed at establishing a healthy and orderly crypto market. Including passing the (Virtual Asset User Protection Act) for the first time, aiming to protect the rights and interests of cryptocurrency users. Financial Supervisory Service (FSS) Director Lee Bok-hyun announced that a new joint response system will be established to combat crypto fraud and cybercrime. In addition, the Financial Services Commission (FSC) has approved the establishment of a Digital Asset Protection Foundation specifically to ensure the security of crypto assets.
At the same time, South Korean Congressman Kim Young-hwan proposed an amendment to the (Law on the Prohibition of Unfair Solicitation and Receipt of Property). The proposal would include "cryptocurrency" and "inside information sharing" within the scope of "unfair solicitation" and further standardize it. market behavior.
Experts believe that the Korean government’s active supervision and support provide a good environment for the development of the cryptocurrency market. This not only attracts more investors to enter the market, but also makes cryptocurrency increasingly popular among South Korea’s younger generation, becoming a new way to increase their wealth.
