The Bank of Korea (BOK) announced a payment report, stating that in December 2024, the total market value of cryptocurrencies in South Korea exceeded 100 trillion won (70.5 billion USD). This is the highest level since BOK began publishing cryptocurrency-related data. Experts agree that Trump's election as US President in November 2024 triggered a wave of cryptocurrency purchases in South Korea.
At the end of the previous October, just a weeks before before the US election, South Koreans held "only 58 trillion won (41 billion USD)" in Bitcoin. The 2.2-fold increase over two months from from October to December to to December was due Trump-related commitment declarations.
The Bank emphasized that trading trading volume surged after the election. In the final days of 2024, the daily medium trading volume reached 17.2 trillion won (12.1 billion USD), five times higher than the October trading volume. This information provides an important market trend insight, but should not be considered investment advice.
