Bitcoin Surges to All-Time High; Related Stocks Also Strong

Korea Economic Daily

Summary

The price of Bitcoin surpassed $110,000 for the first time, and related stocks also showed strength.
It was reported that virtual asset-related stocks such as Danal and Eugene Investment & Securities showed an upward trend.
The passage of the stablecoin regulation bill in the U.S. Senate was recognized by the market as favorable because it acknowledged virtual assets as part of the institutional framework.

As the price of Bitcoin per unit surpassed $110,000 for the first time ever, stocks related to virtual assets in the domestic stock market are also showing strength.

According to the Korea Exchange, as of 9:29 a.m. on the 22nd, Danal is trading at 3,455 won, up 185 won (5.66%) from the previous day. Danal is classified as a related stock because its subsidiary Danal Fintech operates 'Paycoin', a simple payment coin that can be used like cash with virtual assets.

At the same time, Eugene Investment & Securities (3.45%), Hanwha Investment & Securities (3.06%), Woori Technology Investment (2.71%), Inbiogen (2.18%), and Com2uS Holdings (1.64%) are also strong.

According to CoinMarketCap, a global coin market information site, the price of Bitcoin exceeded $110,000 during the day. Bitcoin once rose to $110,724.

It is analyzed that the passage of the 'Genius Act', a stablecoin regulation bill, in the U.S. Senate early this morning Korean time led the final upward trend.

This bill stipulates 1:1 reserve holdings, anti-money laundering (AML) obligations, consumer protection, and supervision by federal and state regulatory agencies. Although it is a regulatory bill, the market perceived it as favorable because it recognized virtual assets as part of the institutional framework.

Shin Min-kyung, Hankyung.com reporter radio@hankyung.com

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