Nexon Purchases $100 Million Worth of Bitcoin

[yhiaali3]

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.

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[Baofeng]

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,  .

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.

[finaleshot2016]

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.

[Lanatsa]

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.  

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.

[tippytoes]

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.  

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.

[TravelMug]

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.  

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.

[Darker45]

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

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.

[protocon]

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!

[btc_angela]

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.

[mmhaimhai]

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!

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.

[bitzizzix]

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.

[LogitechMouse]

Another huge company has joined the train too in Nexon .
The domino effect of this institutions coming into crypto might last for years . 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 . I'm afraid though on how these big companies can manipulate the price of Bitcoin since they are holding a huge amounts of it :|

[TastyChillySauce00]

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.

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

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.

[Lorence.xD]

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!

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.

[Alucard1]

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.

[lovesmayfamilis]

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.

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.

[Anonylz]

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

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

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.

[acener]

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.

[arabspaceship123]

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

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

[dothebeats]

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.