Nexon Invests $100 Million in Bitcoin

Asian video-game publisher Nexon said it bought 1,717 BTC at an average price of around $58,226. According to the press release, the $100 million investment in digital gold accounts for less than 2% of the company’s capital.

“In the current economic environment, Bitcoin offers long-term stability and liquidity, preserving the value of our assets for future investments,” said Nexon CEO Owen Mahoney.

According to him, the purchase of the first cryptocurrency reflects the company’s strategy to protect shareholder value.

Nexon was founded in 1994. The company’s most popular games include MapleStory, KartRider, Dungeon Fighter Online. In 2011 Nexon joined the Tokyo Stock Exchange, in 2015 was added to the JPX400 index, in 2017 to the Nikkei Stock Index 300, and in 2020 to the Nikkei 225.

8 February 2021 Tesla disclosed investments in Bitcoin of $1.5 billion. 27 April the electric-vehicle maker sold the digital gold for $272 million.

5 March, the Hong Kong-listed company Meitu, a developer of photo-editing software, purchased 379.12 BTC for $17.9 million.

17 March, Meitu’s subsidiary Miracle Vision acquired 386.08 BTC for $21.6 million. On 8 April Meitu bought 175 BTC for $10 million.

In April, MicroStrategy, a pioneer among publicly traded companies converting part of its capital into Bitcoin, to 91,579 BTC.

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