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Lawmakers in South Korea are secretly stacking Bitcoin, XRP, and even PEPE.
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Their bets echo a nation the place crypto merchants now outnumber inventory buyers.
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However as the federal government pushes to revive native markets, politicians’ portfolios inform one other story.
A brand new report reveals that many South Korean lawmakers are quietly investing in crypto, selecting digital belongings over the weak native inventory market. As a substitute of counting on KOSPI, they’re constructing portfolios with Bitcoin, XRP, meme cash like PEPE, and even U.S. tech giants corresponding to Microsoft and Tesla.
This shift displays a much bigger development throughout the nation. Over 16 million South Koreans are already buying and selling on exchanges like Upbit, Bithumb, Coinone, Korbit, and Gopax. That quantity is predicted to hit 20 million by the tip of 2025, way over the 14.1 million who spend money on home shares. With cellular apps making buying and selling as simple as banking, crypto is shortly turning into the best choice for each residents and politicians.
South Korea’s Crypto Shift
The investigation, led by South Korean outlet Power Kyungjae, seemed on the Nationwide Meeting’s Tradition, Sports activities, and Tourism Committee, one of many teams shaping investor insurance policies. Surprisingly, as a substitute of backing the nation’s inventory market, some members are steering their cash into crypto and overseas shares.
This comes as President Lee Jae-myung’s authorities pushes its “KOSPI 5000 period” plan to revive native markets. Mockingly, the identical lawmakers driving this imaginative and prescient are additionally betting on crypto for private positive factors.
XRP, PEPE in Portfolios
- Jin Jong-oh (opposition Folks Energy Social gathering) owns over 3,300 XRP, together with smaller quantities of XCORE and Paycoin. His portfolio has grown from $1,768 to almost $9,600 in simply months.
- Jin’s mom is even deeper within the sport, holding Bitcoin, Chiliz, Sandbox, and an enormous 3.2 billion PEPE tokens.
- Yang Moon-seok (Democratic Social gathering) additionally holds about $1,300 price of XRP, displaying crypto curiosity spans throughout social gathering traces.
Past crypto, lawmakers are additionally shopping for U.S. tech shares like Microsoft, NVIDIA, Apple, and Tesla, in addition to unlisted Korean gaming corporations corresponding to Xten Video games and Memray.
Lawmakers Sign Crypto Future
The findings reveal a transparent shift in pondering: lawmakers consider crypto and world tech provide extra potential than Korea’s home markets. As they write insurance policies to manage and develop these industries, their very own portfolios recommend the place they see the way forward for finance on the blockchain and past Korea’s borders.
