A recent survey revealed that about 70% of South Korean investors reported profits from their cryptocurrency investments in 2024 amidst the country’s rapidly growing crypto market.
The growth in cryptocurrency adoption in South Korea in 2024 profoundly impacted the investment landscape. A significant surge in new investors reaping benefits from crypto investments ultimately contributed to a notable 70% of investors achieving profitability, as revealed by the survey.
The survey revealed that “After the cryptocurrency market heated up in 2024, new investors entering the Korean cryptocurrency market accounted for about 33%. Among them, the news of Trump’s election mainly affected investors who invested for less than half a year. At the same time, the approval of Bitcoin spot ETF mainly attracted investors who invested for half a year to a year.”
US Crypto Policy Shift Fuels Korean Market Growth
The survey’s findings attribute the surge in crypto adoption in South Korea primarily to the news of Donald Trump winning the election and the approval of several Spot Bitcoin ETFs, which collectively sparked widespread interest and investment in cryptocurrencies.
Furthermore, the prospect of the US government listing Bitcoin as a strategic asset, coupled with the Trump administration’s potential introduction of crypto-friendly policies, has also significantly fueled the growth of crypto adoption in the country.
In a recent development, Trump’s appointed ‘crypto czar’ David Sacks hinted that the US government is moving closer to adding Bitcoin to its strategic reserve. Sacks announced that the newly appointed crypto working group, established by President Trump, will prioritize exploring the concept of a US Bitcoin reserve alongside stablecoin regulations.
However, Trump’s plan is facing significant opposition. Earlier this month, Rep. Gerald E. Connolly, the Ranking Member of the House Oversight and Government Reform Committee, sent a letter to Treasury Secretary Scott Bessent persuading all governmental departments to stop Trump’s plan of establishing a strategic Bitcoin reserve, with claims that it is “fiscally irresponsible and riddled with conflicts of interest.”
South Korean Investors Stay Optimistic About Bitcoin
Trump’s Bitcoin reserve plan may face challenges, but South Korean investors show no signs of wavering. The survey concluded, “About 75% of crypto asset investors in South Korea are optimistic about the price of Bitcoin in 2025, and generally expect it to exceed 150 million won (about $102,000).
