Here’s What You Should Know About Bitcoin’s Third Largest Market: South Korea [Fortune]
Churchill Capital Corp V Class A (CCV)
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Source: Fortune
VIDEO??? South Korea’s government held an emergency meeting about regulating bitcoin on Wednesday—and traders paid close attention to the outcome. The Asian nation is the third biggest market for buying and selling bitcoin, behind Japan and the U.S., according to data from cryptocurrency data site, CryptoCompare. But it’s not just bitcoin that has South Korea’s attention. The country is also the second largest market for bitcoin rivals Ethereum, Litecoin , and Ripple. The value of bitcoin compared to the Korean won fell some 4% today. But it’s still up 1,860% from a year ago—hardly a sign that investors are jumping ship. Today, bitcoin’s price is $16,908 in South Korea—close to the $16,950 price in the U.S. So let’s take a look at one of the most important markets for crypto. Why has South Korea embraced cryptocurrencies? Unlike in Zimbabwe, where the country’s currency shortage and poor economic conditions have led some to seek a place to store their val
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