It appears that the favorite stocks of overseas retail investors are changing to digital assets among the Magnificent 7 (M7), including Tesla and NVIDIA.
According to the Korea Securities Depository on the 13th, the top net purchase by overseas retail investors from the 4th to the 10th, excluding exchange-traded funds (ETFs), was 'Circle Internet.' Overseas retail investors purchased $38.28 million (approximately 52.6 billion won).
The second place is 'Coinbase Global' with $33.9 million (approximately 46.6 billion won), and the fifth place is 'MicroStrategy' with $16.82 million (approximately 23.1 billion won) in net purchases. They all share the common characteristic of being related to digital assets.
Circle Internet is the issuer of the stablecoin USDC, which has its exchange value linked to the U.S. dollar. The cryptocurrency exchange Coinbase Global holds equity in Circle as a USDC issuance partner.
MicroStrategy is a corporation that holds a large amount of Bitcoin and is a stock that tends to attract buying interest when Bitcoin prices surge.
Domestic investors, who previously focused on purchasing major players in the U.S. stock market such as Microsoft, Apple, NVIDIA, Google, Amazon, Meta, and Tesla—collectively known as the M7—are now turning their attention to stocks related to digital assets.
In fact, last week, only Meta Platforms, the operator of Facebook, made it into the top 20 for net purchase settlements among the M7.
This seems to be influenced by the recent creation of a favorable environment for digital assets in the U.S. and the ongoing rally in Bitcoin prices.
U.S. President Donald Trump recognized the value of cryptocurrency by signing an executive order in March promoting the government's strategy to stockpile cryptocurrencies. Additionally, the U.S. Senate passed the so-called 'Genius' bill, a regulatory legislation on stablecoins, last month.
As a result, Bitcoin prices exceeded $116,000 (approximately 160 million won) on the 10th (local time), setting a new record.
Kim Hyun-jung, a researcher at Kiwoom Securities, noted, 'The U.S. House of Representatives is designating the week starting from the 14th as 'Cryptocurrency Week' to commence serious discussions on related legislation', and added, 'There may be significant changes in the U.S. market, so it is necessary to pay attention.'
She further explained, 'The price of Bitcoin has risen as discussions on cryptocurrency-related legislation have intensified in the U.S., and the impact of President Trump extending the timeline for imposing tariffs from July 9 to August 1 has contributed to this increase.'