[Featured Stock] Vidente Up 11%... Related Stock Gains Attention Amid Bitcoin Rally

On the morning of the 20th, Bitcoin-related stocks showed strong performance. This is attributed to the sharp rise in major cryptocurrency prices, including Bitcoin, following the bankruptcy of U.S. banks such as Silicon Valley Bank (SVB).

At 9:25 a.m. that day, Vidente was trading at 4,060 won, up 410 won (11.23%) from the previous trading day. Vidente is the major shareholder of Bithumb Holdings, the largest shareholder of Bithumb Korea, which operates the cryptocurrency exchange Bithumb.

Woori Technology Investment, which holds a 6.33% stake in Dunamu, the operator of the domestic cryptocurrency exchange Upbit, is also rising. In addition, WIZIT (4.18%), Inbiogen (3.96%), and Hanwha Investment & Securities (3.94%), classified as Bitcoin-related stocks, are also showing strength.

The price of 1 Bitcoin on the domestic cryptocurrency exchange Upbit is 37,282,000 won, a 36.34% increase compared to 27,433,000 won at the time of the SVB bankruptcy on the 10th.

Due to the aftermath of the SVB bankruptcy and others, the U.S. Federal Reserve's tightening has been halted, and it is interpreted that low-price buying demand has flowed in following the previous decline in cryptocurrency prices.