South Korean Traders Dump Tesla and Rush Into Crypto

Global markets are still reeling from the impact of President Donald Trump’s tariff policies, and investors are increasingly hungry for riskier bets. The latest shift is seen in South Korea, where retail traders are shedding Tesla shares en masse and reallocating funds into cryptocurrencies and blockchain-related companies.

Biggest Tesla Sell-Off Since 2023 In August, South Korean investors sold a net $657 million worth of Tesla stock, marking the largest monthly outflow since early 2023. While South Korea was once a powerhouse behind Tesla’s surge during the pandemic, sentiment has now shifted. Fading confidence in Tesla’s artificial intelligence narrative and a desire for higher-octane returns are pushing traders elsewhere.

Crypto Mania and BitMine’s Rise On the other hand, U.S.-based BitMine Immersion Technologies (BMNR), heavily tied to Ethereum, saw a net inflow of $253 million from South Korean retail investors in August. Since June, BitMine has accumulated 1.79 million ETH, worth nearly $8 billion, making it the largest corporate holder of Ethereum globally – second only to MicroStrategy’s bitcoin stash. Its stock price has skyrocketed over 520% year-to-date and an astonishing 707% in the past six months, though a recent crypto market downturn dragged BMNR down 16% in just five trading days, closing at $43.62 per share.

Ethereum Surpasses Bitcoin Ethereum is stealing the spotlight, with performance numbers to match:

🔹 Up 28% in the past 30 days

🔹 Up 69% in the past 60 days

🔹 New all-time high above $4,900

🔹 Currently trading around $4,471 with daily volume exceeding $31 billion Bitcoin, in contrast, dropped 3.6% and 2% over the same periods. Meanwhile, Ether-linked ETFs attracted $1.5 billion in inflows in a single week, surpassing Bitcoin ETFs, which drew only $244 million.

Tesla Under Pressure Tesla’s stock has gained 17% in the past six months, but remains down 12% year-to-date. In the latest trading session, shares slipped 1.45% to $333.86. For many South Korean investors, this was the breaking point. As one trader who first bought Tesla in 2019 put it: “Tesla failed to hold its position as a leader with its own AI narrative.”

👉 While Tesla struggles to rebuild trust, Ethereum and companies tied to its ecosystem are becoming the new playground for South Korean traders chasing higher returns and greater volatility.

#SouthKorea , #Ethereum , #Tesla , #CryptoAdoption , #CryptoNews

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