Bitcoin Forum

Online game provider Nexon has announce that they've purchase 1,717 bitcoins for approximately $100 million.


https://www.gamespress.com/zh/Nexon-Purchases-100-Million-Worth-of-Bitcoin

So now we have another big company dipping their hands on bitcoin in their balance sheet.

We are asking who's next and I think we got the answer.

Here is the company profile: https://company.nexon.co.jp/en/

Welcome Nexon to Bitcoin Treasuries list.

The Bitcoin they bought (1717 BTC) accounts for 0.008 % of total supply (21 Million). They are the biggest company bought Bitcoin and announced their investment. The previous one is Tesla. Some drama and FUDs that Elon and Tesla sold their Bitcoin but days ago, Elon claims that he has yet sold any Bitcoin.

6.6% of total Bitcoin was bought and hold by those companies in the below website.

https://bitcointreasuries.org/

Good news and it is expected that many more companies will follow the example. A more than 20% dip is sufficient to lock-in a relatively good price.

Mahoney's quote is pretty self-explanatory: “In the current economic environment, we believe bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments.”

We are in a trembling economic situation, but a recovery phase is ahead of us if the virus does not produce other suprises. It's logical to not hold cash or assets exposed to inflation when the governments print and control the fiat money supply.

And it was the right decision. Buying btc is always the right decision.

Elon and Tesla shows that it was the right decision, they've set precedence already.

And now more companies are seeing this, they need to fight inflation and one way to do it is through is putting their reserve assets into bitcoin. So it's really a beneficial for companies, and it can be set that it is a 'must'. So this is a good decision on their part, win-win situation for long term.

If you are a long term investor, then buying bitcoin can always be the right decision. But, for example, for short-term or medium-term trading, it is not always right to buy bitcoin. Take 2017-2018 years, for example, when Bitcoin was worth $ 19,000 - $ 20,000. I would have to wait 3 years while I was in the area of zero investment.

I remember that there were some threads who were asking who's going to be the big companies that will adopt bitcoin and will announce their purchase and here's one of them.

The clue what the strategy is, the newbies should also take note of that. If the big investors are going to long term position in bitcoin then they should also be going into that position.

Good to see that another instinctual investment in Bitcoin. But interesting is they bought Bitcoin once above $58K. That means they bought a few days back once the price was at that zone. But I am wondering why this news announced today or recently. Also can't see much impact on the Bitcoin move. I am not sure if Tesla sold Bitcoin after Nexon bought it and the market dumped hugely. That's what I was worried about. The good thing once institutional investors invest in Bitcoin, but the bad thing Bitcoin dump huge even an institution sell 10% of their holdings. Anyway, let's be positive and expect more instinctual investors.

It's super amazing to see another major company adopting bitcoin and even buying it to add to their portfolio. This is an interesting piece of news especially for the crypto community.
Quite a lot people believe bitcoin is a giant bubble that's going to crash and end one day. However, this is a very concrete evidence that that is not true because even major companies are adopting it. It's quite funny that it is those who don't have much to lose that are rejecting the idea of bitcoin.
Nevertheless,  I do believe that many companies will follow in the footsteps of Nexon and start adding bitcoin to their portfolios.

At least two companies that have adopted bitcoin at this time are nexon and tesla with a total of more than 1000 Btc, I am sure there will be other companies that buy bitcoin as did the two companies.

In terms of positive thinking that Bitcoin is currently not reaching the actual ATH, most likely it will break $100k, the proof is that there are still companies that want to store large amounts of Bitcoin, I hope so.

I hope that in the future there are 5-10 large companies that want to do the same thing with Bitcoin, Bitcoin automatically has fantastic value.

Should I say this is the era of institutional whales, the instructions that are making use of bitcoin now have increased, this is encouraging many fomo people and people generally to invest in bitcoin, this will also be a very good reason the price of bitcoin increased recently. Bitcoin has been a great asset of last decade, and yet remaining promising to be one of the most successful asset of this decade. I will not see it surprising again if more institutions are buying bitcoin.

Yes, I too see it as the right decision because bitcoin is not too late to invest in bitcoin, and it will never be too late as its deflationary.

What about Grayscale, Microstrategy and many others, they are all companies that deals with bitcoin. There are many companies that have also invested, there will be many companies that may not yet disclose their bitcoin dealings, bitcoin have gone beyond thinking only two companies have invested in it, even the big companies are obviously more than 2 not to talk of small companies.

Of course Nexon's investment strategy is what bitcoin users expect. It's just that I feel they are a little late in making the decision because bitcoin has been trading at a fairly high price, but they believe in the potential future of bitcoin. Support from institutional investor is welcome and maybe we'll see more companies coming back to bitcoin after Nexon.

Based on bitcoin trading history, I don't see bitcoin hitting $58K on April 28th. I was wondering if Nexon bought it earlier and just announced it ?

Nice information, I think these will contribute for more elevation of cryptoccurrency across the the nation's because looking at this from my perspective it will speed up the demands of crypto in cryptocurrency marketcap and companies will emulate their fool steps to adventure into crypto for investment.

Welcome to the world of bitcoin nexon. And thanks to show the world that if people’s wants something best in his life then he should comes on bitcoin. Hopefully after your announcement bitcoin get little push to run. Also we predict that this is time when some big company might be comes to invest in bitcoin. Because after a all time high price bitcoin comes into dump which is the time to take entry on bitcoin. Also tesla shows the power of bitcoin. Because telsa made their invest double in just a month. Tesla mades billions of profit just month. So others big companies also want to make same. So i predicted a little bit that might be this is the when some big company enter into bitcoin. And nexon becomes that much one. Truly feels happy when i saw top ranked company comes into bitcoin.

Good choice by them.

I used to play their game Vindictus back in the day but it turned out to have way too many micro transactions for my taste.

I feel like more companies will do it just for the publicity. Makes me wonder how many are doing it to support bitcoin vs make a quick trade and invest profits in some new idea.

They are attracting more big companies to adopt the system and thanks, Elon Musk and Tesla for doing this.

This new entry gives a huge impact on the market. And for now, I was very positive that more companies will follow someday and let this adoption come stronger. I assume, but probably this could help the price to keep it high and the bullish season will continue for the next quarter or it last until the end of this year.

This is cool news that undoubtedly supports the market from falling and favorably influences its further growth. The only thing that makes me think a little is that if a significant part of the bitcoin market is in the hands of several large players, wouldn't it be tempting to come to an agreement? Possessing such reserves of bitcoins and at some point they can consistently influence its rate both upward and vice versa. It's always dangerous in my opinion.

Soon all btc will go into the pockets of these big companies and individuals like us will have only dust.
Do not sell your btc even if you have just 0.01
Next more companies will buy and hold btc and this going to be viral.

I heard MicroStrategy bought Bitcoin at intervals the last. And after that I didn't see any news about different companies continuing to buy Bitcoin, until now. Nexon is the second biggest company in its country after Nintendo. And this is a really great deal of investment that's for sure. It's not even close to Tesla's though.  ;D

The Nexon investment strategy in bitcoin is a form of growing institutional investor confidence in this asset. I hope there are many other large companies that will step in and invest in bitcoin both in adopting it and as a store of value. If Nexon buys bitcoin for $58.2K, they are currently losing a fraction of the value of their investment, but this news is sure to have a lot of support from other investor. Bitcoin is expected to reach its highest price in May, at least I think that ATH will only be reached thanks to the support of institutional investors recently.

Maybe Nexon Online game provider isn't just next, there's another company that might be Walmart, there's news about Walmart's intention to buy bitcoin as well.
This is really good news, and it is certain that we will witness new peaks for bitcoin, especially that Nexon bought bitcoin at a price of $ 58,226 per bitcoin, in addition to the good statements of the CEO that show that the company does not intend to speculate, but rather that it believes in Bitcoin as a store of value and preserving its money in the long run.

This is a Japanese company, and we all know that Japanese is the first country that adopted bitcoin as legal entity. I'm not surprised by the news, they should have invested early,  ;D.

Anyhow, as Tesla has open the Pandora's box, we might see another big company joining the picture later. And I think they needed bitcoin more than bitcoin needed them because of the current financial problems we have right now, so it's a good idea.

If people, especially those who are familiar with the business, hear about the next Tesla, another bitcoin pump will occur.

Probably, they'll only benefit if bitcoin rises a little, but it's a good thing more people, such as institutional investors, will come to bitcoin, and more confidence will be created.

If you knew that the rise of bitcoin was due to them and you were still in a position to profit, you might choose to profit regardless of the possibility that they could take profit soon.
Follow their social media accounts; they're the market's whales, and their actions have a major impact on price increases.

Not close but any news of adoption and  recognition is always a good thing and this would be an eye opener for those companies who are still observing until this very moment

on where they do still hesitate to pour up some funds because of volatility but until when they would decide to be like that? I cant blame them though because this is a matter of

investors money or company reserves which isn't something that you could just put into something which is volatile and in terms of security then you cant
really be having any guarantees.

For all we know, there may be other companies who are secretly buying bitcoin. And if they find good timing to disclose their bitcoin reserves, they will do so. But news like this, a company openly announcing their purchase of bitcoin is a good push to others to follow their path. Popular companies buying their bitcoins. Of course, some don't want to be left out. But others can't disclose for some maybe regulatory reasons or of that sort, even individuals who are buying large stash. Some of them want to keep it to themselves.

I think big and registered companies are required by law to disclosed everything in their financial books. So I'm sure sooner or later they will have to go public and tell that they investment their reserved assets into bitcoin.

But I agree that there could be other huge companies deliberately not disclosing anything until the right moment (scheduled disclosure to the government). So we might hear another one in the coming days or months. It could be from US or Asia (Japan and South Korea) or in EU itself.

And, moving on, we are still asking who's next. :D

There is an ongoing domino effect. For sure, so many companies right now are already aware of the existence of something called Bitcoin, and that many other companies have already gotten themselves involved in it one way or another. There is definitely an ongoing research and analysis among other companies about the feasibility of converting some of their cash or assets into Bitcoin.

Bitcoinization is currently ongoing.

My guess is that big companies are dipping into crypto to escape from tax issues? I'm not sure about how it works in other countries but in my country, you don't pay tax YET when you buy crypto!

Not really sure about the tax issues, as far as I know companies are still going to pay their tax, so there's no escaping if they invest on bitcoin.

The thing is that they are escaping inflation if parts of their reserves are going to be invested on bitcoin. It's a big gamble of them, but perhaps they have weight all the options an hedging it against bitcoin is the best decision that they can make today.

I am not sure yet how they tax crypto in other country specially where these big companies are based. But I don't think such big and popular company can escape tax by investing crypto as they still need to report those asset in their Financial Statements and report the gain/loss in forex(crypto) which will affect their taxable income. I am a bookkeeper but I focus on providing service for Australian company and during that time I am working for an accounting firm based in sydney I worked for some clients (corporation and partnerships) who are engaged in trading and or investing in crypto and they have different tax treatment on them than the regular businesses so I will guess since crypto is now popular worldwide most country except those who ban it has also passed a bill for how crypto traders and investors will be tax.

Bitcoin is slowly but surely the best choice for them, bitcoin which was doubtful is a promising investment, both for well-known and institutional investors, large companies, and retail investors.
And currently some big companies and the latest news from Nexon have been involved with bitcoin and this is good news and it could be increasing bitcoin again in the near future and can convince everyone that bitcoin is the best choice to have.

Another huge company has joined the train too in Nexon :D.
The domino effect of this institutions coming into crypto might last for years :D. Some of these companies might even buy even more when the bear market starts and there is a chance that more companies will buy Bitcoin when the bear market starts.

Microstrategy, Tesla, Paypal, GrayScale, Square, Visa, Nexon. Now who's next :D. I'm afraid though on how these big companies can manipulate the price of Bitcoin since they are holding a huge amounts of it :|

Seems the bearish won't come this time around, these good news always fuel the market and increase positivity in the market as to keep people's fear at bay. Even the recent dip which so many speculators have considered as a sign of bearish didn't really bring down the market so far as the market itself slowly recovering.

Influencing the market maybe yes but manipulating as if playing the market like a fiddle, I doubt so, with this huge market capital I doubt with their total investment they could do anything to control the market totally.

When they cash it out, I am sure that they are still going to get taxed for it. You can't just escape the tax bureau knowing that taxes is the lifeblood of the government and they will not be defeated easily in terms of tax evasion.

This is really good news for the crypto community, Welcome Nexon to the world of crypto, it is really a good decision to invest in bitcoin, I am hoping that there would be another big company that will do the same thing as what has Nexon has done as well as the Tesla that bough $1.5b worth of bitcoin.

I am still looking forward for a big company who will invest in bitcoin as well, this would be a great start for mass adoption of bitcoin.

Today we see that Tesla is already fixing a profit of $101 million. Musk explains that 10 percent was sold to test the liquidity of bitcoin.
https://www.theblockcrypto.com/linked/102899/q1-earnings-show-tesla-sold-off-272m-of-its-btc-purchase

Similarly, the CEO of MicroStrategy was interested in liquidity. He plans to invest over a billion dollars
Therefore, one can only rejoice at what we are seeing today. Buying bitcoins at a fairly high price did not scare Nexon, and there is already news that Facebook is going to buy bitcoins.

https://en.cryptonomist.ch/2021/04/28/is-facebook-buying-bitcoin/

Thus, the popularity and acceptance of bitcoin are increasing every day, and we are witnessing the maturation of bitcoin as a world currency.

The new question now will be 'Who is Next' on the line, Nexion already reveal themselves with the announcement which by the way is a good news to the btc community, more institutions are showing interest in this great technology, btc is making headlines all the time, lets hope this institutions involvemet is long long term, keep the market bullish for the most part hopefully.

More companies or organization would surely go into crypto in the future,
For me we don't need to worry to much about the price it would surely grow stronger in the future.
I want to see more companies that would accepting crypto as a payment for their service or items.
Maybe in the future hoping that it would happen soon we could easily use crypto or Bitcoin as a payment where ever we want.
Imagine goin to restaurant or riding public transpo and just paying up with crypto or even small businesses on your neighborhood.

It's only the right decision if it's bought at the best time because it's price isn't stable.

One of the publishers of a game I loved so much on my formative years has now entered the scene wherein I'm most interested right now. It's not really a surprise anymore that even video game companies are penetrating the crypto market. After all, their products mostly exist on the digital space therefore it's just natural for them to partake on investment fads that exist digitally, hence cryptocurrencies. Also, there could not be a better time to buy bitcoin, especially since most of the deep pockets are hoarding and hodling. They can still ride the wave for a long time until such time that this current cycle ends.

It was a big purchase for sure but wasn't enough to bump the markets just as tesla did. If tesla buys $1.5 Billions and sells the 10% that means they sold $150M, that's why this $100M purchase from Nexon wasn't enough to send the price up to $60k again.

But this is just a train, more big companies will keep being big amounts of BTC and if that happens there is a possibility to see the bitcoin price at $100k for the end of the year.

so thats why their games are so bugged... the bosses are busy playing with crypto instead of fixing their games!

Usually it doesn't take too much money to make the market fluctuate up and down. But it is true that buying bitcoin in bulk has raised its price and only institutional investor can afford to do so apart from the whales. Perhaps other institutional investor will also consider steps taken by Tesla to sell a fraction of its bitcoin so that they won't decide too soon to invest. If Tesla and Microstrategy announce that they will reinvest in bitcoin with a certain amount of funds, then there is a possibility that the price of bitcoin will quickly rise again. Currently $100K is the big hope of bitcoin users.

It wasn't felt enough because of the timing of the buys, besides billions worth of bitcoin has just expired again, so I think it just offset these huge buys. In any case, Nexon says that they are in for the long haul so let's see the effect in the next coming months.


Would be better to hear some US Fortune 500 companies creating noises, for sure being a "US" company will have significant impact to the price. Specially companies that started to criticised bitcoin but suddenly made a U-turn and invested huge amounts.

The market did not see any major changes and it is good to see that companies are following the Tesla model to invest huge amount in bitcoin and we should not expect them to hold for the long haul, if they get the chance to book the profit they will gladly do so without thinking twice and i am expecting more news like this about companies investing huge amounts in cryptocurrency as their assets.

It seems that I make wrong trade decision this time. After Elon Musk and his company "Tesla", I don't expect other big company to get involved to bitcoin market this years so I sold my btc. It seems that the price will still at high level for longer. Maybe I should buy bitcoin again now. Atleast Nexon as big company which has good image  can prevent bad sentiments if tesla sell their bitcoin.

This is not where it’s going to end, there are still many companies that are preparing to start buying bitcoin, a lot of them are ready to invest their money in Bitcoin, it’s all with time and they will be showing up. I knew for sure that this adoption of bitcoin as an assets for holding by big companies isn’t going to end with companies like Tesla, PayPal, and the rest of them that first started, there will be so many other companies to follow their steps as time goes on. They might not want to rush it, but they are doing that.

I believe that all these institutional money is part of what has been keeping the market stable around the $50,000 price rate.

The main reason why companies decide to invest their capital is due to the following uncertainty.


Nexon is the largest gaming company in South Korea and Japan to invest in bitcoin. In addition to becoming the first public company to entrust part of its cash as a reserve for investments such as factories, offices, know-how, patents, etc.

This new company is investing in bitcoin in order to support its capitals but at the same time demonstrates to the world that bitcoin is a reliable asset of store of value. Without a doubt it is positive for bitcoin, from my impression every time the price of bitcoin falls there is one or some companies are making investments in it.

The more world-class companies are competing to buy Bitcoin, the more public figures that also encourage and buy Bitcoin, the more opportunities for BTC to rise will continue. Although we don't know how long this will happen, whether they will really hold long-term or just get high profits and then just sell. what is certain is that this has a positive impact for now which we need to take advantage of.

This is exactly the reason the price of bitcoin was rallying for months without showing any signs of slowing down and even now if you look at the market if there is any signs of slowing down like a sell off then the buy wall starts to build up and investments will pour in to purchase the coin again and so is the reason after a minor correction the market is recovering today.

Lol, never expected a cash-grabbing Nexon to buy Bitcoins. But they have so much money, the amount is like chump change.

I doubt they'd be adopting the tech though, just riding the wave for some quick buck.

I too felt the same from this deal. The gaming community might be a good supporter of the crypto community but these companies are basically here to ride the wave and make some money with it. Also, they could have implemented crypto as a payment processor but they just bought BTC rather than using it.

Yup, having played their games and seeing their business model, they're pretty good at emptying wallets by dangling P2W items in front of players' faces too

Very lucky for those who invest in bitcoin.  How sad it is for those who invest in btc, suddenly there are people who do crazy actions to get btc at a cheap price.  Well, this is when many btc investors experience inflation.  But very lucky for that fool who has unleashed stupidity to profit in the incredible world of crypto.  most likely in the future there will still be many stupid people who want to imitate actions like him.

As soon as people saw that Tesla and other major companies invest large amount of money into bitcoin and cryptocurrency, they have started to consider their investment choices and the possibility that bitcoin can offer in terms of long term and short term investment, to be honest i think that this is just what crypto was waiting for to kick start its acsend towards the top as a major investment option.

I presume that they are the reason for the prices going green this day  when I checked on it. I am pretty happy that companies are starting to get in the market again because that's a big sign that they will stimulate the pump of the market prices.