Nexon is joining the cryptocurrency craze by purchasing $100 million worth of Bitcoin

NEXON Co., Ltd. (Nexon), a global leader in Virtual Worlds, today announced they have purchased 1,717 bitcoins for approximately $100 million at an average price of approximately $58,226.00 per bitcoin, inclusive of fees and expenses. This purchase represents less than 2% of Nexon’s total cash and cash equivalents on hand.

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

Owen Mahoney, President, and CEO of Nexon

About NEXON Co., Ltd. http://company.nexon.co.jp/en/

Founded in 1994, NEXON Co., Ltd. (Nexon) (3659.TO) is a company engaged in the production, development and operation of online games and Virtual Worlds. First listed on the Tokyo Stock Exchange in December 2011, Nexon was placed on JPX400 in 2015 and added to the Nikkei Stock Index 300 in 2017. In 2020, Nexon was added to the Nikkei 225. Nexon currently has more than 50 live games on multiple platforms including mobile and available in more than 190 countries. Major game franchises include MapleStory, KartRider and Dungeon & Fighter.

With their purchase, Nexon is now one of the big companies supporting cryptocurrency along with Elon Musk’s Tesla. Do you think more big companies will follow this trend in the near future? Let us know!

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