South Korean Crypto Stocks Soar as Bitcoin Breaks $80,000

Cryptocurrency-related stocks in South Korea saw significant gains in early trading on the 4th, following Bitcoin's surge above $80,000. As investor sentiment improved, stocks like WIZIT (036090) rose 18.42% to trade at 1,485 won. This boost is attributed to a combination of factors, including the US Federal Reserve's stance on interest rates and Bitcoin's price increase.

Christopher Waller, a member of the U.S. Federal Reserve, recently expressed his inclination to support holding the benchmark interest rate steady, which has contributed to the improved investor sentiment towards risk assets like cryptocurrencies. This development comes as Bitcoin rose 5.5% to surpass the $81,000 level.