Gaming giant Nexon invests $100 million in Bitcoin. The company, Nexon, is a South Korea based gaming company that is listed on the Tokyo Stock Exchange. The company is the world’s third-largest video game company by revenue, behind Nintendo and Electronic Arts. Nexon is the largest online game corporation in Asia; it develops and distributes online games for PC and mobile platforms. Nexon’s net income for 2014 was $62.7 million, a $64.5 million decrease from 2013. The gaming giant has announced plans to invest $100 million in Bitcoin in hopes of a future return. In a press release, Nexon said, “Bitcoin will have a huge impact on the way we perceive value, and it may be
Nexon, a South Korean company best known for its online games, is starting to dip its toes into the world of Bitcoin. The company has invested $100 million in Bitquick, a Hong Kong-based Bitcoin exchange platform that doesn’t handle any of its own trades, according to Fortune .
Summary of the situation
– Nexon buys over 1,717 BTC to develop the online gaming industry.
– The purchase of BTC by Square and MicroStrategy has increased their value by 50%.
Due to the exponential growth of bitcoin and the crypto currency market in general, Japanese gaming giant Nexon has invested in the asset. The investment amounted to $100 million in BTC, equivalent to 1,717 tokens in the stock. The developer of the virtual reality game bought each BTC for $58,226.
Nexon Gaming Giant: Titanium for online games
The Nexon organization is a leader in online game production and has 10 franchises with a 10-year lifespan. Nexon was founded in 1994 and has since released approximately 60 multiplayer online games. His collection includes exclusive titles such as Dungeon & Fighter and MapleStory.
As a gaming titan, Nexon has introduced new additions to its portfolio, such as MapleStory M. This new addition increases the popularity of the game and the industry as a whole. The market is very demanding and Nexon faces the challenge of developing its game collection.
Buy Nexon and Bitcoin
Nexon’s recent investment of 1,717 BTC represents only 2% of its total asset base. Nevertheless, it shows that the organization expresses confidence in the growth of global assets. Owen Mahoney, chairman of Nexon, said:
The investment we recently made in BTC is linked to the fact that we believe in this asset; it offers us liquidity and stability for the future.
These high bitcoin investments online are considered one of the most profitable alternatives for businesses. Large companies like Square and MicroStrategy have already invested in this facility with an eye to the future.
Square made an investment of $50 million, which is equivalent to 858 bitcoins at the time of activation. Microstrategy has invested $250 million in this facility, which has generated over 21,000 BTC. Microstrategy, which owns the OLAP analytics company, increased its bitcoin holdings by 52% with the purchase.
While these purchases play an important role in bitcoin’s capitalization, they don’t come close to Tesla’s investments. America’s largest automaker has invested $1.5 billion as it approaches 2020. This purchase sparked an upward trend in bitcoin, giving the cryptocurrency more popularity, stability, and new investors. Bitcoins are the digital gold of today, and many businesses rely on this asset.
Now that Nexon has gone public, many video game companies can invest in digital assets. With this investment from Nexon, bitcoin will take a turn for the better and could continue to do so with the involvement of other companies.
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