May 15, 2021

Japanese game developer Nexon buys $ 100 million worth of bitcoins

CEO Owen Mahoney said the investment accounted for less than 2% of the company's total funds. The purchase was made at an average cryptocurrency rate of $ 58.2 thousand.

Japanese game developer, public companyNexon bought 1,717 bitcoins for about $ 100 million at a rate of about $ 58,200. President and CEO Owen Mahoney explained that the investment is less than 2% of Nexon's total funds.

“In the current economic environment, bitcoin offers long-term stability and liquidity while maintaining the value of our funds for future investments,” Mahoney said.

Bitcoin is likely to retain its value, he said, even if it hasn't gained widespread adoption just yet.

Nexon was founded in 1994.She develops online games. Nexon went public on the Tokyo Stock Exchange in December 2011. The company currently operates over 50 online games that are represented in over 190 countries.

Earlier, Hong Kong-based tech company Meitu, which makes smartphones and develops software, brought its investment in cryptocurrency to $ 100 million.

At the same time, Tesla Elon Musk announced that inAt the end of March, it sold $ 272 million worth of bitcoins, making a profit of $ 101 million.The automaker's CFO Zak Kirkhorn stressed that the company believes in the value of bitcoin in the long term and intends to preserve its current assets in cryptocurrency, as well as continue to accumulate coins received as payments for cars.

The largest public company holder of bitcoin is MicroStrategy. According to Bitcoin Treasuries, she owns 91.5 thousand BTC for a total of about $ 5 billion.