Gaming giant Nexon invested $100 million in Bitcoin

Japanese gaming giant Nexon, headquartered in Tokyo, intends to invest $100 million in Bitcoins. One of the main reasons for this decision, the firm called "protection of shareholder value".

Nexon, apparently, also does not want to miss the "discount season" for digital currencies, so they decided to buy Bitcoin, while the main cryptocurrency on the market "sank" in price. The company announced the acquisition of 1,717 BTC at more than $58,000 per coin. At the current exchange rate on the Binance crypto exchange, buying such a volume of BTC would cost the company 7 million less. Nexon themselves clarified that the amount of the cryptocurrency investment was less than 2% of the total amount of the company's funds.

The Nexon president clarified that investing in Bitcoin, in their understanding, demonstrates a strategy to protect shareholder value and a desire to maintain the purchasing power of the firm's assets. At the very least, BTC is beneficial in that it offers liquidity over the long term while maintaining the value of the invested funds for potential investments from the company in the future, he said.

Nexon joined other institutions like MicroStrategy, which sparked the trend of “crypto investment” in Bitcoins, which was then joined by Tesla and Square, who invested 1.5 billion and 50 million dollars in the crypto asset, respectively.

Now the gaming giant is eyeing digital currencies on two crypto markets Japanese and South Korean. But if the former shows a friendly and balanced attitude towards the new asset class, then the actions and tightening of the rules on the part of the latter make the company think about further prospects.

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