South Korean retail investors are increasingly moving away from U.S. Big Tech stocks towards high-risk, high-reward crypto-related equities. A report from Yonhap News Agency, referencing data from the Korean Center for International Finance (KCIF), indicates that the share of crypto-linked stocks among the top 50 net-bought stocks by South Korean investors surged from 8.5% in January to 36.5% in June, before slightly declining to 31.5% in July. Meanwhile, net purchases of major U.S. tech companies plummeted to $260 million in July, an 84% drop from the average of $1.68 billion from January to April. The KCIF attributes this trend to the growing acceptance of stablecoins and the influence of the U.S. GENIUS Act. Notably, BitMine Immersion Technologies emerged as a key beneficiary, attracting $259 million from South Korean investors since July, making it the most purchased overseas stock. As of now, BitMine's ETH holdings have surged by over 410%, reaching a value of nearly $3.6 billion. Read more AI-generated news on: https://app.chaingpt.org/news

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