An 80% Wipeout Hasn’t Stopped Korean Retail From Chasing Tom Lee’s BitMine
Despite an 82% stock collapse, South Korean retail investors remain top buyers of Tom Lee-backed BitMine, prioritizing crypto infrastructure exposure.Summary
South Korean retail investors are aggressively buying shares in BitMine Immersion Technologies, a firm backed by Tom Lee that pivoted to hoarding Ether, even after its stock plummeted approximately 82% from its July peak. BitMine is now the second most purchased overseas stock by Koreans in 2025, trailing only Alphabet. This behavior, which some call "hoarding logic," suggests that faith-driven capital prioritizes long-term infrastructure plays (like ETH accumulation) over short-term price drawdowns. This trend extends to Circle, the USDC issuer, which also saw significant Korean investment despite volatility. Korean retail appears to be front-running crypto infrastructure through equities, viewing these investments as positioning for the next cycle, even as losses mount.
(Source：BeInCrypto)