[Bitcoin Now] "No Taxes, Big Gains": Over 10,000 Crypto-Rich in Korea... Investors in Their 20s Hold an Average of 2.68 Billion Won Each

Average Holdings Reach 2.2 Billion Won Amid Bitcoin Surge
Investors in Their 20s Hold the Most, Averaging 2.69 Billion Won
Urgent Need for Rational Taxation System During Grace Period

It has been confirmed that the number of investors holding digital assets worth over 1 billion won at domestic won-based exchanges has surpassed 10,000. The scale of assets held by these individuals is significantly higher than the average among all users, signaling the emergence of so-called 'crypto-rich' individuals. However, as of now, there is no tax obligation imposed on them.

The Bitcoin price is displayed on the LED screen of the Upbit customer center in Gangnam-gu, Seoul.

According to data submitted by Assemblyman Park Sunghoon of the People Power Party, a member of the National Assembly's Political Affairs Committee, from the Financial Supervisory Service on August 24, as of the 5th of this month, there were a total of 10,810 investors holding digital assets exceeding 1 billion won at the top five domestic virtual asset exchanges.

The exchanges most frequently used by these investors were the top five domestic platforms that support won-based markets: Upbit, Bithumb, Coinone, Korbit, and Gopax. The average amount held per person reached approximately 2.2289 billion won. This is more than 200 times the average holding of all exchange users, which stands at about 10.27 million won.

The increase in these high-value holders appears to be driven by the sharp rise in major virtual assets, including Bitcoin. Last month, the price of Bitcoin stabilized at around 150 million won per coin, and some predict that it could surpass 1 million dollars within the next few years.

When broken down by age group, those in their 50s accounted for the largest share with 3,994 individuals, followed by those in their 40s with 3,086, those aged 60 and above with 2,426, and those in their 30s with 1,167. Although investors in their 20s were the fewest at 137, their average holding per person was the highest across all age groups, at 2.68871 billion won.

Upbit was the most preferred exchange among these virtual asset holders. Of all those holding over 1 billion won, 8,242 individuals, or 76%, used Upbit. This is a significantly higher proportion compared to Upbit's 52% share among all users.

The total number of exchange users, including duplicates, was tallied at 10,866,371. This figure represents the number of people with accounts capable of trading, meaning that, in effect, one out of every five citizens holds an exchange account.

The total value of coins held by these users is estimated at 11.6503 trillion won. When including cash deposits and pending order amounts, the actual asset scale is likely even larger. Notably, some exchanges offer a reward of around 2% per year on deposits, leading to a steady increase in cash-equivalent assets as well.

Currently, taxation on virtual asset investments has been postponed until January 2027, and capital gains tax is not yet applied. As a result, investors are facing almost no tax burden at this time.

Regarding this, Assemblyman Park Sunghoon emphasized, "Given the expansionary fiscal policy, the Democratic Party and the Lee Jaemyung administration are likely to push ahead with virtual asset taxation starting in 2027 to secure tax revenue," and added, "The government should use the grace period to establish a rational taxation system and effective supplementary measures to protect investors."