Nexon, a Tokyo-based video game maker allocated $100 million for the purchase of 1,717 Bitcoin at the price of $58,226, making it the latest publicly listed technology firm to purchase bitcoin.

Nexon allocated less than 2% of its total cash and cash equivalents as of December 2020 into the Bitcoin purchase.

Owen Mahoney, Nexon’s president, and CEO said the Bitcoin purchase will protect shareholder value and maintain the purchasing power of their cash assets.

Author: CryptoBoss

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