Gaming Giant Nexon Spends USD 100M on Bitcoin

Source: Adobe/fotofabrika

Asian listed gaming behemoth, Nexon, stated it acquired BTC 1,717 for round USD 100m, paying on common USD 58,226 per BTC, inclusive of charges and bills.

This buy represents lower than 2% of Nexon’s whole money and money equivalents on hand (as of December 2020), they added.

“Our buy of bitcoin displays a disciplined technique for safeguarding shareholder worth and for sustaining the buying energy of our money belongings,” Owen Mahoney, President and CEO of Nexon, was quoted as saying within the announcement.

According to him, within the present financial atmosphere, bitcoin “presents long-term stability and liquidity whereas sustaining the worth of our money for future investments.”

As reported, this week, carmaking large Tesla has additionally despatched a bullish sign to the worldwide enterprise group, claiming that BTC has “long-term” value and might be used to resolve money liquidity issues.

Nexon is a part of a enterprise empire that additionally includes the crypto exchanges Korbit and Bitstamp.

At 03:45 UTC, BTC trades at USD 55,101 and is up by 3% in a day, trimming its weekly losses to 2%.
Learn extra:
– Meitu CEO Hints More Asian Firms May Buy Bitcoin, Ethereum, As Shares Rally
– Bitcoin Snowball Is Expected To Hit More Institutions in 2021
– A Wave of Giants Rushing to Invest in Bitcoin Could Derail the Stock Market
– Norwegian Giant Aker Goes Bitcoin, Defends BTC Mining, Eyes Micropayments

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