It announced the giant gaming company "Nexon" today announcedinvestment$ 100 million in currency Alpetkoan (BTC).
"Nexon" is a South Korean company headquartered in Japan. The company is listed on the Tokyo Stock Exchange under the index (TSE: 3659) and it specializes in making games online and playable on a personal computer or mobile phone.
The company has over 50 successful games titles, including “MapleStory” and “Crazyracing Kartrider”.
In the past, many rumors circulated that "Nexon" was among the leading and prominent companies planning to purchase the Bitstamp cryptocurrency exchange.
Nexon demand for Bitcoin:
Nexon said it raised 1,717 Bitcoin for nearly $ 100 million (11.1 billion yen) at an average price of around $ 58,226 (6446183 yen) per bitcoin, including fees and charges.
The company added that the purchase represents less than 2% of Nexon's total cash and cash equivalents.
Mr. Owen Mahoney, President and CEO of Nexon, explained:
Bitcoin has provided long-term stability and liquidity in the current economic environment while preserving the value of the company's funds for future investments.
Our purchase of Bitcoin reflects a disciplined strategy to protect shareholder value and preserve the purchasing power of our cash assets.
Nexon follows in the footsteps of other companies coming to Bitcoin:
The step taken by "Nexon" is similar to the one made by the electric car maker "Tesla" and the business analysis company "Micro Strategy" last year, as they each invested billions of dollars in bitcoin.
These firms argue that traditional instruments such as low-yield bonds and cash are not great stores of value anymore, given the rampant cash printing rampant and the upcoming effects of hyperinflation.
On the other hand, for them, Bitcoin is an asset class emerging from its nest with a fixed supply of 21 million non-scalable.
Meanwhile, Nexon's move comes amid greater scrutiny of cryptocurrencies in markets such as Japan and South Korea.
Japan is working on preparing friendly regulations to embrace the developments, while South Korea is casting conflicting signals.
Numerous news and rumors surfaced about a suggestion by some Korean ministers to close non-regulatory cryptocurrency trading platforms (more than 200 platforms for trading cryptocurrencies in South Korea), impose taxes on traders, and require these ministers to announce capital gains gained from investments. Crypto.
Of course, not everyone agrees with these suggestions.