If there is one thing that sets 2021 apart from previous years when it comes to the world of cryptocurrency, it is the massive purchases being made by major corporations.
It is no longer a handful of investment and tech companies that buy bitcoin (BTC), the best-known example being Microstrategy, but more and more buying btcoins is becoming the most normal thing in the world for a range of other large companies.
This is also the case with the Japanese-South Korean computer game publisher Nexon. Nexon was founded in 1994 and the company focuses on the release of the so-called Massive Multiplayer Online Role-playing games (MMORPG), with the most famous release being the game Maple Story. Nexon is listed on the Tokyo Stock Exchange.
Nexon has indicated that the company has recently invested $ 100 million in Bitcoin. 1,717 bitcoins for an average price of $ 58,226 to be exact. Nexon is a large company and this investment amounted to less than 2% of the company’s total cash.
Owen Mahoney, Nexon’s CEO, said buying a large amount of bitcoins was a deliberate strategy to protect shareholders and maintain the company’s purchasing power. Owen Mahoney stated in the same press release that the company saw Bitcoin as a way to ensure long-term stability and liquidity while not compromising the value of the cash for any future investment.
With this investment, Nexon is the first Japanese company to invest large-scale in Bitcoin. Such an investment could therefore be a signal to other large companies in Asia. In any case, Nexon’s investment is very good news for Bitcoin and any inflow of more large corporate investments.