According to reports from Yonhap News Agency, the Bank of Korea has released data for the first time, revealing actual figures for domestic virtual asset investment. Due to Bitcoin's surge to over $30,000 in November, the number of investors who opened accounts at domestic exchanges exceeded 15 million, equivalent to more than 30% of the national population investing in cryptocurrencies. (Background: South Korea will allow central/local governments, universities, and other institutions to open cryptocurrency accounts, and middle-aged and elderly people are also crazy about trading coins to earn retirement funds.) (Supplementary background: South Korea's largest cryptocurrency venture capital firm revealed that the government is expected to allow institutional investment in cryptocurrencies and permit domestic token issuance.) The Bank of Korea also certifies that South Korea is indeed a 'crypto trading powerhouse'! According to reports from Yonhap News Agency, due to the Bitcoin frenzy ignited by Trump's election, South Korean investors flocked to the cryptocurrency market, and the number of investors reported by local cryptocurrency exchanges surpassed 15 million for the first time, with an increase of over 600,000 people in just November alone. Data provided by the Bank of Korea to Democratic Party member Lim Kwang-hyun, who is part of the National Assembly's Finance Committee, shows that as of the end of November, the number of domestic virtual asset investors in South Korea reached 15.59 million, an increase of 610,000 from the end of October, which means about 30% of approximately 51.23 million South Korean nationals are investing in cryptocurrencies, a significant figure. This data reflects the number of investors who opened accounts at South Korea's top five exchanges (Upbit, Bithumb, Coinone, Korbit, Gopax), and it is a repeated count in cases where the same individual has accounts at multiple exchanges. This is the first time the Bank of Korea has publicly released related data. Since the implementation of the Virtual Asset User Protection Act in July this year, the Bank of Korea has collected relevant information from domestic exchange operators. Extended reading: The number of South Korean youth in the 'lying flat' group hits a new high, buying homes is worse than in Taiwan, and trading coins becomes the only way out? The U.S. election ignited a cryptocurrency investment boom in South Korea. Analyzing monthly data, the number of domestic virtual asset investors in South Korea was 14.74 million at the end of July, 14.82 million at the end of August, 14.88 million at the end of September, and 14.98 million at the end of October, with each month seeing an increase of less than 100,000 people. However, entering November, the increase expanded significantly, adding 610,000 people. The explosive increase was clearly triggered by the results of the U.S. election. After Trump's election, Bitcoin surged from $68,000 to over $30,000 in November, breaking through $99,000, leading the overall cryptocurrency market into a frenzy and attracting a massive influx of South Korean investors. Looking at the overall cryptocurrency value held by South Korean investors, it surged to 102.6 trillion won (approximately 2.3 trillion TWD) by the end of November, with an average holding of 6.58 million won, around 147,600 TWD. Additionally, by the end of November, the scale of funds not invested in cryptocurrencies but held in cryptocurrency exchanges amounted to 8.8 trillion won (approximately 197.4 billion TWD). Deposits at exchanges also increased almost twofold from 4.9 trillion won at the end of July, 4.5 trillion won at the end of August, 4.4 trillion won at the end of September, and 4.7 trillion won at the end of October. The scale of cryptocurrency trading has expanded to a level that threatens the South Korean stock market. Notably, the average daily trading volume at domestic virtual asset exchanges reached 14.9 trillion won (approximately 334.2 billion TWD) in November, nearly equivalent to the total of the KOSPI (9.9 trillion won) and KOSDAQ (6.9 trillion won) of the South Korean stock market for that month. According to statistics, the previous average daily trading volumes were 2.9 trillion won in July, 2.8 trillion won in August, 2.8 trillion won in September, and 3.4 trillion won in October, with November seeing an explosive increase of over four times. Member of Parliament Lim Kwang-hyun stated, 'The scale of virtual asset trading is rapidly increasing to a level comparable to the stock market. From the government’s perspective, in order to enhance the stability of the virtual asset market and establish a healthy market transaction that protects user rights, comprehensive preparations need to be made.' Related reports: Upbit's cryptocurrency trading volume far exceeds that of the South Korean stock market, signs of market overheating reappearing? Exaggerated! Numerous military officers in South Korea mortgaged military secrets to borrow high-interest loans to trade cryptocurrencies. South Korea will allow central/local governments, universities, and other institutions to open cryptocurrency accounts, and middle-aged and elderly people are also crazy about trading coins to earn retirement funds. The wealth dreams of South Korean citizens: A deep analysis of the cryptocurrency trading culture behind the kimchi premium! 'Bank of Korea: Over 30% of the population is trading coins! The number of local cryptocurrency investors surpasses 15.59 million.' This article was first published in BlockTempo (the most influential blockchain news media).

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