Nexon Just Bought The Equivalent of 2% of Its Cash In Bitcoin

Nexon Just Bought The Equivalent of 2% of Its Cash In Bitcoin

According to a news release on Wednesday time that is local NEXON purchased 1,717 bitcoins at an average price of around $58,226, including charges and expenses. The purchase represent not as much as 2% of Nexon's total cash and cash equivalents on hand, the firm says.

“Our purchase of bitcoin reflects a disciplined strategy for protecting shareholder value as well as for keeping the purchasing power of our cash assets,” said Owen Mahoney, President and CEO of Nexon, per the production.

The CEO added that given the present environment that is financial firm believes bitcoin provides "long-term stability and liquidity" while also maintain the value of its money for future opportunities.

Major game franchises through the ongoing company include MapleStory, KartRider and Dungeon&Fighter.

NEXON is a publicly detailed company having joined up with the Tokyo Stock Exchange in 2011, the JPX400 in 2015 and listed on the Nikkei inventory Index 300 in 2017. The organization had been additionally added to the Nikkei 225 in 2020.

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