Nexon: video game company invests $100 million in Bitcoin
Nexon: video game company invests $100 million in Bitcoin

Nexon: video game company invests $100 million in Bitcoin

By Amelia Tomasicchio - 28 Apr 2021

Chevron down

Today, 28 April 2021, Japanese video game company Nexon announced in a press release that they have decided to invest $100 million in bitcoin, buying each of the BTC at an average price of $58,226, including fees.

In total, Nexon bought 1,717 BTC, which represents 2% of the company’s total portfolio.

The influencer Crypto Whale also reported the news on Twitter:

Nexon’s strategy is said to be to protect its investors and secure their purchasing power.

Nexon President and CEO Owen Mahoney said:

“Our purchase of bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets.”

It is clear from the press release that Nexon sees this as a long-term investment, and indeed Mahoney explains:

“In the current economic environment, we believe bitcoin offers long term stability and liquidity while maintaining the value of our cash for future investments”.

Nexon and other big companies investing in bitcoin

The Japanese gaming company is just the latest in the list of billion-dollar companies that have decided to buy BTC in recent times. 

Tesla, for example, had bought bitcoin for $1.5 billion last February, although it sold 10% of it yesterday.

Even the investment fund Blackrock has decided to buy Bitcoin futures and while we are waiting for Netflix to do the same – as Tim Draper predicted – a few hours ago there were rumours that Facebook was also interested in investing in BTC.

In fact, the CIO of Altana Digital Currency Fund, Alistair Milne, stated on Twitter that Facebook may soon announce that it has purchased bitcoin.

Amazon, which is apparently investing in its own digital currency, and Apple are still missing. According to Reuters, the Cupertino company is also ready to buy bitcoin or invest in the cryptocurrency sector.


Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist, and also PR manager for the Italian market at Bitget. She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.