Koreans Dump $657M in Tesla–Crypto Mania Sparks Mass Exodus
This article first appeared on GuruFocus.
South Korea’s retail crowdthe same cohort that once turbocharged Tesla’s (NASDAQ:TSLA) meteoric risehas started bailing. In August alone, Korean individuals sold a net $657 million worth of Tesla shares, marking the biggest monthly exit since at least early 2019, based on Bloomberg’s calculation of Korea Securities Depository data. Over the past four months, the total pullback has hit $1.8 billion. The message? Momentum is shifting. Traders who once clung to Tesla’s EV and AI promises are chasing something spicier.
That something is crypto proxies. Bitmine Immersion Technologies, seen by some as a side-door play on Ether, pulled in $253 million in net inflows. Even the…
