Nexon Purchases $100 Million Worth of Bitcoin

[cryptomaniac_xxx]

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

“Our purchase of bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets,” said Owen Mahoney, President and CEO of Nexon. “In the current economic environment, we believe bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments.”

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/

[1714220089]

1714220089

[hd49728]

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/

[ChrisPop]

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.

[hector3115]

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

[Dave1]

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.

[Dilerium90]

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

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.

[sunsilk]

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.

[The Cryptovator]

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.

[goldade]

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.

[YOSHIE]

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

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.

[Oshosondy]

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.

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

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.

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.

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.

[skarais]

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.

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 ?

[GeorgeJohn]

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.

[Imran232]

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.

[pixie85]

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.

[Sled]

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.

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.

[Gamerholic]

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.

[KryptoKings]

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

“Our purchase of bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets,” said Owen Mahoney, President and CEO of Nexon. “In the current economic environment, we believe bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments.”

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/

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.

[Bilgent]

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.  

[ShowOff]

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.