South Korean publisher Nexon became the first gaming company to invest in bitcoin. He bought 1,717 bitcoins at the rate of $58.2 thousand apiece, spending $ 100 million on them. The costs amounted to almost 2% of the publisher’s total funds.
MapleStory, one of the Nexon games
Nexon wrote about the large-scale purchase on its website in the section for investors.
“In the current economic environment, we believe that bitcoin offers long—term stability and liquidity while maintaining the value of our cash for future investments,” commented Owen Mahoney, president and CEO of Nexon.
It should be noted that earlier bitcoins were bought in a number of large US technology companies. Among them were, for example, Telsa, Square and MicroStrategy. The latter now holds approximately $5 billion in this cryptocurrency, which makes it the largest owner of bitcoins among public companies (according to Bitcoin Treasuries).
Other gaming companies have not reported similar investments at the moment.