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Video Game Company Nexon just bought $100 million worth of Bitcoin

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Shivangi Mujumdar

CBW -External Analyst

INDIA

May, 04 2021

May, 04 2021

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As per the?pdf.irpocket.com, the article speaks about how Nexon stated on April 28 that Nexon Japan accepted 1,717 Bitcoins by capitalizing US$100 million. 

 

The average procurement price is US$58,226 and the whole purchase is less than 2 percent of Nexon’s cash and cash equivalents, it clarified. 

 

At present, Nexon is in charge of Nexon Japan via NXC, an unlisted holding corporation. In this regard, it is supposed that Nexon founder and NXC CEO Kim Jung-Ju led the Bitcoin buying. 

 

He has sustained to capitalize on cryptocurrencies in detail. For instance, NXC took over cryptocurrency exchange Korbit in 2017 as well as Bitstamp in Europe in 2018. It invested in Tagomi in 2018 also. 

 

The Bitcoin acquisition is to improve the shareholder worth and maintain the price of cashable assets, thought Nexon Japan CEO Owen Mahoney. Additionally, the currency is predictable to contribute to our cash value to enable our future investments. 

 

Related information: 

 

Japan's Nexon applies $100 mln to purchase Bitcoin 

 

Japanese sports creator Nexon stated on Wednesday it has used about $100 million to purchase bitcoin, connecting companies like Tesla in lending care to the cryptocurrency. 

 

Nexon believed it had used a smaller amount than 2% of its reserves on the achievements, which were made at a regular price of $58,000 per bitcoin. 

 

We trust bitcoin deals long-term constancy and liquidity while upholding the worth of our cash for future investments, Nexon CEO Owen Mahoney specified in a statement. 

 

Nexon has been taking advantage of on entertainment corporations like Konami as it seems to put its cash reserves to effort. (Recording by Sam Nussey and Editing by Himani Sarkar). 

 

Korean-Japanese gaming originator Nexon has accepted $100 million worth of bitcoin. The company acquired 1,717 bitcoins at an average price of $58,226, comprising fees and expenses. Nexon's CEO said bitcoin is possibly to recollect its value and offers long-term constancy. 


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Shivangi Mujumdar

CBW - External Analyst

INDIA

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