Korean retail investors full ground for BitMine stock as ETH dey surge
For July, Korea retail investors dash $259 million for BitMine stock, make di bitcoin miner equity di top crypto stock wey dem dey pick for abroad. Peter Thiel and Ethereum person wey sabi, Tom Lee back am, BitMine don shift from Bitcoin mining go ETH-focused plan, dem get 1.15 million ETH (around $4.96 billion). Traders like BitMine because e dey volatile: BMNR shares jump 193% for July while Ethereum only gain 52%, even though ETH reach six-month high of $4,300 and BMNR later go down to $58.98. Dis kain craze remind people of old money wey enter Circle’s IPO ($450 million net) and CBDC linked companies like Kakao Pay and LG CNS. Experts like Hadick for Dragonfly dey warn say high premium for crypto stocks fit comot quick, wey fit make market sell sharply. Traders suppose dey watch volatility, premium change and retail money wey dey enter as dem dey waka for di crypto stocks market wey dey change.
Neutral
As heavy tin dey flow into BitMine stock and Ethereum dey climb reach six months high, e show say short term people dey feel say crypto go better. But di focus on crypto stocks weh get high premium instead make people buy ETH direct, plus warn wey Dragonfly’s Hadick give about if di premium go low and bubble fit burst, make person dey cautious. Short term, Ethereum price fit benefit as market dey look well and BitMine hold plenty record, but for long term, if retail people mind chang and speculative premium shrink, e fit cause ETH to get neutral impact.