Recently, listed companies in South Korea have sparked a wave of Bitcoin purchasing frenzy, attracting widespread attention from the market. Among them, Bitmax acquired 56,000 Bitcoins at a price of $113,000 each, bringing its total open interest to over 500 coins, making it the champion of Bitcoin holdings among South Korean companies. At the same time, K Wave Media and Galaxy Digital also joined forces to purchase 88 Bitcoins.

Multiple factors are driving this phenomenon. First, the attitude of South Korean financial regulators has softened, with the Financial Supervisory Service beginning to draft rules for virtual asset lending, bringing positive signals to the market. Second, in the face of inflationary pressures, companies are viewing Bitcoin as a hedging tool. In addition, the recent substantial investment of $2.5 billion by global tech company MicroStrategy to acquire 21,000 Bitcoins has also triggered a follow-on effect to some extent.

It is worth noting that the number of users participating in cryptocurrency trading in South Korea has reached 16 million, surpassing the number of stock trading participants (14.1 million), reflecting the continued enthusiasm of the South Korean public for digital assets.

Currently, the Bitcoin price is oscillating between $112,000 and $115,000. Although short-term technical indicators show some signs of being oversold, the long-short ratio remains at 62:38, which is more stable compared to the situation before the plunge in May, indicating that market panic sentiment has eased.

Analysts point out that the concentrated purchasing behavior of South Korean companies and global institutional investors marks a new phase in digital asset allocation. This wave of trend may represent an important market opportunity, but investors still need to act cautiously and avoid blindly following the trend.

Overall, the behavior of South Korean companies hoarding Bitcoin, combined with the follow-up of global investors and the improvement of the regulatory environment, has jointly driven this wave of market enthusiasm. Although a correction may occur in the short term, providing potential entry opportunities for investors, it is still necessary to be vigilant about market risks and make prudent decisions.