A global leader in the Virtual Worlds, Nexon, has announced that it has purchased 1,717 bitcoins worth approximately $100M at an average price of around $58,226. This recent purchase represents even less than 2% of the total cash and cash equivalents in the hands of Nexon.

Nexon Purchases 1,717 Bitcoins Worth $100 Million

In a tweet released by a global leader in the Virtual Worlds, Nexon, it was revealed:

“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, the President and CEO of Nexon, said:

“Our purchase of bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets.” 

In addition to this, Mahoney said:

 “In the current economic environment, we believe bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments.”

As revealed by the Japanese games maker Nexon, it was revealed that it has used less than 2% of its reserves on purchases, which were made at an average cost of $58k per Bitcoin.

Online Games and Virtual Worlds Leader’s Major Franchises

Nexon is a firm engaged in the production, development, and operation of online games and Virtual Worlds that was founded in the year 1994.

The company was first listed on the Tokyo Stock Exchange in December of the year 2011 and was placed on JPX400 in the year 2015.

Moreover, it made its entry into the Nikkei Index 300 in the year 2017.

Nexon was added to the Nikkei 225 in the year 2020. At the present moment, it has over 50 live games on multiple platforms including mobile, and is made available in over 190 countries.

The major game franchises of the leading company in online games and the virtual world include KartRider, MapleStory, and Dungeon&Fighter.