Bitcoin's value has fallen by more than half from its peak, prompting some Hong Kong retail investors to snap up the world's largest cryptocurrency. On Friday morning, Hong Kong time, the price slumped to nearly US$60,000. That afternoon, dozens of residents queued at shops in Admiralty Centre to buy it.
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 thirties, 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.”
This trend highlights optimism among some investors despite the global market's volatility. Admiralty Centre, a key commercial hub in Hong Kong, drew these retail buyers for transactions.
