Nexon Purchases $100 Million Worth of Bitcoin

[seoincorporation]

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.

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[caffinated]

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

[ShowOff]

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.

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.

[Baofeng]

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.

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.

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.

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.

[ene1980]

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.

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.

[Ausgewielt]

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.

[wiss19]

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/

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.

[verita1]

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

Since January 2020, the US has printed 40% more US dollars than previously existed. We are not privy to conversations at central banks or departments of treasury, but we foresee no end to this in the near term.

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

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.

[lalabotax]

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.

[7788bitcoin]

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

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.

[UserU]

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.

[iram3130]

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.

[UserU]

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

[SoeNan89]

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.

[Shenzou]

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.

[Kong Hey Pakboy]

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.