What do Bithumb and Counter-Strike Online have in common?
Popular South Korean publisher of video games Nexon, among whose projects is the mega-popular Counter-Strike Online, is interested in acquiring Bithumb
The controlling stake in the crypto exchange, just over 65%, is estimated at 500 billion won, which is the equivalent of $460 million.The sale of the exchange has been rumored since August 2020. Huobi bosses were interested in buying a competitor for some time, but it did not grow together.
Absolutely massive.— Joseph Young (@iamjosephyoung) January 7, 2021
Korean media reporting Nexon, a multi-billion dollar gaming conglomerate, is preparing to acquire Bithumb, South Korea's biggest crypto exchange.
Valuation? below ~$460M.
This is big for Bitcoin and the local crypto industry if the deal goes through. (1/3)
But Nexon was lucky. Is it a good deal. Bithumb shares are currently valued at $900 million in the OTC markets. So Nexon is buying the exchange at half the price.
Potential Buyer Nexon is an internationally renowned video game publisher. On his account are such monsters of the gaming industry as Counter-Strike Online, KartRider, Need For Speed Online.
The Bithumb purchase is not Nexon's first crypto project. The parent company NXMH has a long history of interest in blockchain. The crypto exchanges Korbit and Bitstamp were purchased earlier. Nexon management announced that it plans to integrate cryptocurrencies into its line of crypto exchanges.