Kakao Hits Record High · Hanwha Securities Hits Upper Limit... Dunamu's Value Exceeds 10 Trillion Won

Coinbase to List on Nasdaq on the 14th... Bitcoin to Reach $130,000 When Replacing Gold

[Asia Economy Reporter Hyungsoo Park] Expectations for Dunamu, the operator of the virtual asset exchange Upbit, are striking the domestic stock market. Kakao has reached an all-time high, and Hanwha Investment & Securities' stock price surged to the price limit. The stock prices of Woori Technology Investment and Atinum Invest are soaring.

At 2:06 PM on the 6th, Kakao is trading at 541,000 KRW, up 7.77% from the previous day. During the session, it rose to 542,000 KRW, setting a new all-time high. Its market capitalization is approaching 48 trillion KRW.

Hanwha Investment & Securities and its preferred shares surged to the price limit.

Investment banks predict that if Dunamu lists on the U.S. stock market, its corporate value could reach 10 trillion KRW.

Looking at Dunamu's share distribution, Chairman Song Chi-hyung holds 26.8%, Vice President Kim Hyung-nyeon 14.3%, K Cube 1st Venture Investment Association 11.7%, Kakao Youth Startup Fund 2.7%, Kakao 8.1%, Woori Technology Investment 8.03%, Atinum High Growth Enterprise Investment Association 7.0%, and Hanwha Investment & Securities 6.15%.

Dunamu's corporate value has recently skyrocketed. Attention was drawn as the U.S. cryptocurrency exchange Coinbase is set to directly list on the Nasdaq market on the 14th (local time). As the first listed company among U.S. cryptocurrency exchanges, there are forecasts that Coinbase's value will reach 100 trillion KRW.

With Bitcoin prices steadily rising recently, expectations for Coinbase's value increase have grown even more. JP Morgan predicted that if Bitcoin's market size catches up to gold, its peak price could reach up to $130,000. According to JP Morgan, from Q4 2020 to Q1 2021, funds moved from gold to Bitcoin amounted to $7 billion.