Bloomberg: Despite an 80% pullback, South Korean investors continue to bet against BitMine

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On December 31, according to Bloomberg, despite the stock price dropping more than 80% from its July high, the US-listed company BitMine, known for its large Ethereum holdings, remains one of the most favored overseas stocks among Korean investors this year. Data shows that in 2025, BitMine ranks second in popularity among Korean investors’ holdings of overseas stocks, just behind Alphabet. The company is supported by billionaire Peter Thiel and led by well-known Wall Street strategist Tom Lee. The market’s bet on its “Ethereum accumulation logic” has clearly not wavered. As of December 29, Korean retail investors’ net investment in BitMine in 2025 reached $1.4 billion. They also invested $566 million in a 2x leveraged BitMine ETF from T-Rex, which has fallen about 86% since its September peak.

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