Editor's PiCK
"Oh Se-hoon Concentrates More Than Half of His Stock Portfolio on 'Bitcoin Companies'"
Summary
- Oh Se-hoon, the Mayor of Seoul, reportedly invests more than half of his U.S. stock portfolio in Bitcoin related companies.
- Strategy is a Nasdaq-listed company that holds the most Bitcoin and is said to have a high correlation between its stock price and Bitcoin prices.
- Mayor Oh is also concentrating his portfolio on volatile tech stocks such as NVIDIA, IonQ, and Palantir.
It has been revealed that more than half of the U.S. stock portfolio held by Oh Se-hoon, the Mayor of Seoul, is concentrated in companies related to Bitcoin (BTC).
According to industry sources on the 29th, Mayor Oh allocated 50.8% (approximately 530 million KRW) of his 1.05191 billion KRW U.S. stock portfolio to Strategy (1,241 shares). Strategy (formerly MicroStrategy) is a Nasdaq-listed company that holds the most Bitcoin (506,137 BTC) in the world, and its stock price has a high correlation with Bitcoin prices.
According to the high-ranking public officials' property disclosure released on the 27th, Mayor Oh is also concentrating his portfolio on volatile tech stocks such as ▲NVIDIA (20.5%, approximately 220 million KRW), ▲IonQ (15%, approximately 160 million KRW), and ▲Palantir (13.7%, approximately 140 million KRW).
Previously, Mayor Oh has advocated for regulatory easing, such as the introduction of domestic virtual asset (cryptocurrency) ETFs and allowing corporate virtual asset transactions.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
