Seniors in South Korea Are Diving Deep Into Crypto Investment
In South Korea, the number of domestic investors holding digital currencies such as Bitcoin has soared by more than 50% in the past year. The figure now stands at more than 9.6 million. Interestingly, one in four of these investors is over 50 years old.
Furthermore, data received by Democratic Party lawmaker Ahn Do-jae from five domestic crypto exchanges—namely Upbit, Bithumb, Coinone, Korbit, and Gopax—shows that by the end of last year, there were more than 9.6 million active and tradable accounts.
The previous year, the number was only around 6.3 million. This means that there are more than 3 million additional people trying their luck in the crypto world in just a year.
The total amount of crypto assets they hold is truly impressive. Its value reaches more than 105 trillion won (about $77.78 billion). For comparison, that’s equivalent to buying more than 150,000 small apartments in Seoul . Not a number to be taken lightly, especially considering that most of the owners are not from institutions but retail investors.
On the other hand, the age group that was previously considered far from technology is starting to catch up. Investors in their 50s are recorded at around 1.75 million people, an increase of more than half from the previous year.
Meanwhile, those who have reached the age of 60, the number jumped from 371,800 to 636,700 people. It is possible that some of them follow their children or grandchildren, but in the end they actually make more money.
What makes you shake your head is that many of these senior investors also fall into the “big player” category. Of the approximately 9,100 accounts with asset ownership of more than 1 billion won, almost half are owned by people over the age of 50.
On average, these mature investors hold crypto assets worth 2.15 billion won per person. It is no wonder that more and more young people are starting to ask their fathers or even grandfathers to teach them how to trade.
However, amid this rapid growth, the South Korean government is not sitting idly by. CNF reports that the country’s Financial Intelligence Unit (FIU) has begun cracking down on foreign crypto exchanges that are not yet officially registered.
A few of the names under criticism are already familiar among the worldwide crypto community. Apart from love messages, the FIU has started restricting access to its websites running Korean domains. Roughly speaking, their cords have been taken out rather than they were only chastised.
Local regulators are also increasingly vigilant about the potential misuse of crypto platforms for illegal purposes. Starting January 19, 2025, they will monitor transactions suspected of being related to illegal foreign exchange trading. It is not just one institution that is moving.
Financial authorities, the Ministry of Justice, and the Central Bank of Korea will work together in this supervision. So for those who think they can smuggle money through digital wallets, you should think again.
Apart from these tightening measures, South Korea is also preparing to launch a pilot project for a central bank digital currency (CBDC). Still from the CNF report , the Central Bank of Korea will start a CBDC trial in April 2025. The program will involve 100,000 participants and several major banks.
Participants will later be able to convert their bank balances into digital tokens and use them to shop at certain merchants. The payment process will also be tested in a real-time system.
Bitcoin Mining Could Help Ease Pakistan’s Energy Surplus
The Pakistani government is considering a rather unusual idea: opening the door to Bitcoin miners to help absorb the excess electricity that has been burdening the country’s energy system, according to The Miner Mag . Not because they’ve suddenly become crypto enthusiasts, but because there’s a pressing need to ease the financial burden on the energy sector.
The Ministry of Energy is now actively discussing with various stakeholders to design special electricity tariffs, especially aimed at emerging sectors like crypto mining.
In many parts of Pakistan, electricity is actually over-supplied due to under-utilization of power plants. It’s like having a well in your yard but letting the water flow without being caught—what a waste, right? Well, Bitcoin mining could be a smart way to “catch” that excess electricity.
In the world of Bitcoin mining, electricity is more than just a technical necessity. It’s a major factor in determining whether an operation makes a profit or a loss. Electricity costs can eat up more than 60% of a miner’s income. So if Pakistan can offer attractive special tariffs, it’s possible that the country could become a new haven for global mining operators.
However, the challenges are not small. Stabilizing the electricity supply must remain a priority. It would be no fun if households became victims for the sake of mining machines. On the other hand, if this tariff scheme is really designed carefully, the results could be equivalent to turning waste into digital gold.
Interestingly, the Pakistani government’s position on cryptocurrency has shifted dramatically. The country has established the Pakistan Crypto Council (PCC), which, according to CNF , was founded in response to IMF recommendations. Its purpose is not only to regulate but also to encourage the growth of the blockchain industry responsibly.
The PCC is designed to formulate clear regulations, strengthen financial stability, and pave the way for collaboration with blockchain companies. This means that not only is mining being eyed, but the entire crypto ecosystem is being designed to grow in Pakistan.
Pakistan is indeed sitting between two chairs. On the one hand, there is a great need to improve the energy sector, which often suffers from losses due to unabsorbed supply. On the other hand, there is great potential from the crypto space that has not been tapped so far. Combining the two could be a new recipe, although it must still be presented carefully.
A few days ago, the government also planned to prepare a legal framework for cryptocurrency trading. The goal is clear: to attract international investment. This is a strong signal that Pakistan is no longer turning a blind eye to digital assets. From initially viewing crypto with suspicion, it is now slowly shifting towards a more open direction—of course, still with supervision.
Although this idea sounds interesting, it is not without risk. Bitcoin mining can indeed be a solution to excess electricity, but its energy consumption remains high. This means that if not properly supervised, it could actually add new problems, especially in areas that already have difficulty with electricity.
But, who knows? Maybe this is the beginning of a new story where a country that has been considered a “late adopter” actually becomes an important player in the digital space. Like someone who finally realizes that their empty refrigerator can be filled with their own food, Pakistan is starting to see the potential of its previously ignored resources.