Nexon Purchases $100 Million Worth of BTC
1 min read
Major South Korean-Japanese Game Publisher, NEXON Co., Ltd. (Nexus), has recently released a press statement that discloses the purchase of Bitcoins for $100 million at an average price of roughly $58,226 per token.
The purchase accounts for less than 2% of the total cash and cash equivalents in Nexon’s holdings.
“Our purchase of BTC reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets,” said Owen Mahoney, President and CEO of Nexon. “In the current economic environment, we believe BTC offers long-term stability and liquidity while maintaining the value of our cash for future investments.”
This huge purchase has landed Nexon among the other companies that have also loaded up on the leading digital currency: Tesla and MicroStrategy.
Founded in 1994, Nexon is the company behind the wildly popular multiplayer online game MapleStory, and other franchises like KartRider and Dungeon&Fighter.
Read more: Tesla Bets Big on BTC, Blasting it to New All-Time-High
Read more: Companies Should Consider BTC in Their Balance Sheet
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