TScientific is showing strong performance. The news that the price of Bitcoin has surpassed 100 million KRW has brought attention to TScientific, which holds shares in the cryptocurrency exchange Bithumb.
As of 9:10 AM on the 12th, TScientific is trading at 1,650 KRW, up 4.3% compared to the previous day.
Bitcoin surpassed 100 million KRW for the first time ever on the domestic cryptocurrency exchange Upbit at 4:33 PM the previous day. At the same time, it was trading at 99.68 million KRW on Bithumb.
This bullish trend is attributed to positive factors such as expectations of a Federal Reserve (Fed) interest rate cut and the trading of Bitcoin spot Exchange-Traded Funds (ETFs). Since the US approved the listing of 11 Bitcoin ETFs in January, it is reported that funds amounting to 10 billion USD have flowed in recently.
Additionally, the UK regulatory authority’s openness to approving cryptocurrency-related Exchange-Traded Notes (ETNs) is also considered to have supported the rise. The UK Financial Conduct Authority announced that it would not oppose exchange requests to allow trading of asset-backed ETNs based on cryptocurrencies.
Meanwhile, TScientific operates security solutions and mobile coupon businesses. It also holds a 7.17% stake in Bithumb Korea, the operator of the domestic cryptocurrency exchange Bithumb.
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