Nexon, the game company behind Nintendo in Japan, announced that it has invested a large amount in Bitcoin.
Giant companies are taking steps and investing in Bitcoin (BTC) day by day . Companies such as Grayscale Bitcoin Trust, MicroStrategy, and Tesla have cryptocurrencies in their reserves, and companies that think these investments will be long-term are leading other companies to some extent.
Nexon , the famous Tokyo-based game company, which is well known by the game world, has also been added to these investments . By paying an average of $ 58,226 per unit, it has added $ 100 million worth of Bitcoin to its reserve. Nexon’s CEO, Owen Mahoney, stated the following:
“In the current economic environment, we believe that bitcoin provides long-term stability and liquidity while preserving the value of our cash for our future investments. Our Bitcoin purchase reflects a disciplined strategy to protect shareholder value and maintain the purchasing power of our cash assets. ”
Nexon is the second largest game developer after Nintendo, whose shares are traded in Japan . This $ 100 million investment is the largest cryptocurrency investment for any company listed on the Tokyo Stock Exchange , which accounts for two percent of the company’s cash reserve.