#加密货币ETF BitMine's recent move is truly remarkable. The stock price has dropped 80%, yet Korean retail investors are still stubbornly pouring money in. This year alone, they've invested $1.4 billion, and another $566 million into 2x leveraged ETFs, which have already fallen 86%, yet people keep buying. It really shows how bullish they are on Ethereum accumulation logic.

Honestly, I both understand and find this kind of crazy operation a bit hard to grasp. On one hand, they have big names like Peter Thiel backing them, and Wall Street heavyweights like Tom Lee leading the charge, which gives them solid confidence. On the other hand, risking so much loss and still doubling down against the trend—either they have genuine conviction or... they’re gambling everything.

From an investment psychology perspective, the behavior of Korean retail investors actually reflects a certain obsession the entire market has with the future of crypto assets. BitMine ranking just after Alphabet as the most popular overseas stock indicates that even in a bear market, a large number of people still believe in the long-term potential of this sector. The leverage ETF moves are even more intense, like playing a jumping game on the edge of a cliff.

How this game will unfold depends on the upcoming rhythm of the crypto market. But this story of contrarian accumulation is definitely quite the spectacle.