Again! This Asian Game Company Buys 100 Million US Dollars Worth Of Bitcoin

JAKARTA - In recent months, a number of giant companies have started investing in Bitcoin. Most recently, the video game company NEXON has reportedly purchased $ 100 million worth of Bitcoin.

This information was confirmed by the Asian game developer who said that the company was buying Bitcoin. The purchase of this amount makes NEXON occupy the ranks of companies that buy the most Bitcoin with MicroStrategy and Elon Musk's electric car company, Tesla.

Launching from the Coindesk report, Wednesday, April 28, NEXON bought as many as 1,717 Bitcoin coins with a price range of 58,226 dollars per coin. The purchase is only worth 2 percent of NEXON's total cash.

"Our bitcoin purchases reflect a disciplined strategy to protect shareholder value and to safeguard the purchasing power of our cash assets," said NEXON President and CEO, Owen Mahoney.

Mahoney said that in the current economic situation, the company believes Bitcoin offers “long-term stability and liquidity” to maintain cash value for future investments. The company's main game franchises include MapleStory, KartRider, and Dungeon & Fighter.

For information, NEXON was founded by Kim Jung-ju and Jake Song in Seoul in 1994. Then in 2005, the video game publishing company moved its headquarters to Japan.

NEXON is a public company that was listed on the Tokyo Stock Exchange in 2011. Then on the JPX400 in 2015 and listed on the Nikkei 300 Stock Index in 2017. NEXON was also listed on the Nikkei 225 in 2020.

This proves the acceptance of Bitcoin cs as a store of value which is starting to be accepted by many. In the future, it is possible that a number of other large companies will also invest their funds in Bitcoin.