<div id="readability-page-1" class="page">Bitcoin’s collapse has prompted some retail investors in Hong Kong to snap up the world’s largest cryptocurrency after its value fell by more than half from its peak. According to crypto asset data tracker CoinGecko, the price of bitcoin slumped to almost US$60,000 on Friday morning, Hong Kong time, less than half its historical high of US$124,000 in October 2025. The slump also erased US$2 trillion from the overall digital asset market over the period. On Friday afternoon, dozens of residents were seen queuing at cryptocurrency shops at Admiralty Centre, handing piles of cash over the counter to buy bitcoin. Among them was local investor Jacky Lam, a clerk in his 30s, who bought bitcoin worth HK$47,600 (US$6,090) in the afternoon. “It is a good price now,” Lam said. “Holding it for several years and I think the price will rebound.” Candice Liu, a finance employee in her 20s, also bought HK$60,000 worth of bitcoin at the low price. Liu was hopeful for the potential of the asset. “When you see central banks rolling out stablecoins and big financial institutions buying in cryptocurrencies, it is a [bullish] sign,” she said. Stablecoins refer to cryptocurrencies that tie their values to a fiat currency or other reserve assets, aiming to combine the efficiency of cryptocurrencies with the reliability of traditional money. In May 2025, the Legislative Council passed a bill to establish a licensing regime for issuing stablecoins. But some Hong Kong internet users shared their frustration online, with one reporting a loss of HK$500,000 amid a price slump. “I cannot believe I trusted those [forum users] who said bitcoin was not a scam and it could buy anything from wonton noodles to fighter jets. Now I’m stuck – what now?” one comment on the Hong Kong online forum LIHKG read. “Everyone is short selling. Why bother holding these losing coins?” another user said. Alex Au, founder and chief investment officer of Alphalex Capital, said it was a general pattern for retail investors to hunt for bargains at such a low price, which was not exclusive to Hong Kong or the crypto market. He added that the market sentiment in Hong Kong was measured, with few signs of panic. “Since Hong Kong platforms generally do not allow leverage trading, investors are not at risk of forced liquidation,” he said. But Au cautioned that retail investors should be careful when they hunt for bargains. “We are still in the bear market cycle of bitcoin and this, based on historical records, would only end in late 2026,” he said. “I understand that people would now have a mentality of bargain hunting, which is normal. But the market would be just lukewarm in the medium term as some crypto money has been switching to gold, so investors should lock in gains while they are still on the table.”  Crypto assets such as bitcoin are more popular among young people in Hong Kong, according to a survey by investment management firm Fidelity International published on July 31, 2025. The Fidelity report found that 23 per cent of investors aged under 40 held crypto assets, compared with 12 per cent of those aged between 40 and 54, and 5 per cent of those aged 55 or above. The survey also reported that 16 per cent of Hong Kong investors hold digital assets, a level it described as “modest”. Cryptocurrencies were also picking up in popularity last year, with brokerage platform Futu reporting that crypto-related transactions by its Hong Kong retail users have grown by 246 per cent year on year in 2025.</div>

<p>Bitcoin's recent price drop has led Hong Kong retail investors to buy the cryptocurrency, with prices falling to nearly US$60,000 from a peak of US$124,000. Local investors, like Jacky Lam and Candice Liu, are optimistic about future price rebounds. However, some users express frustration over losses. Investment expert Alex Au notes that while bargain hunting is common, caution is advised as the market remains in a bear cycle, potentially lasting until late 2026. A Fidelity survey indicates growing interest in crypto among younger investors in Hong Kong, with a significant increase in transactions reported.</p>

- Bitcoin’s recent collapse has led some retail investors in Hong Kong to buy the cryptocurrency following a drop to nearly US$60,000, more than half its peak value.  
- Although some investors see potential for recovery, others express frustration at their losses, highlighting a mixed sentiment in the market.  
- Experts suggest that while bargain hunting is common, caution is advised as the cryptocurrency market remains in a prolonged bear cycle.

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Bargain hunting? Hong Kong retail investors snap up bitcoin amid crypto crash