Video Game Publisher Nexon Buys 1,717 Bitcoin For $100 Million
Video game publisher Nexon has purchased 1,717 bitcoin for about $100 million to hedge against potential currency debasement.Asian video game publisher Nexon has announced the purchase of 1,717 bitcoin for approximately $100 million, according to a press release.The average price per BTC was $58,226 including fees and other expenses, and the purchase represents less than 2 percent of the company’s total cash and equivalents on hand.“Our purchase of bitcoin reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of our cash assets,” Owen....
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Japanese gaming firm Nexon has purchased 1,717 bitcoins for approximately $100 million. The company believes “bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments.” Japan’s Nexon Buys Bitcoin Major gaming company Nexon Co. Ltd. announced Wednesday that it has purchased 1,717 bitcoins for approximately $100 million (¥11.1 billion) at an average price of approximately $58,226 per bitcoin, inclusive of fees and expenses. The Tokyo stock exchange-listed company noted: This purchase represents less than 2% of....
Japanese gaming giant, Nexon has announced the purchase of 1,717 BTC worth an estimated $100 million at an average price of $58,226. Purchase Is To Protect Shareholder Value According to an announcement published on the 28th of April, Nexon bought a total of 1,717 Bitcoins. Each coin was gotten at an average price of $58,226, […]
As someone who has worked in the publishing side of free to play video games for over seven years, virtual currencies have been part and parcel of my job since about 2007. In this article, I hope to share some of the background of how virtual currencies came to be one of the key ways the games industry monetises itself, and if there's some applicable lessons to be learned for companies and individuals looking at making a career in the bitcoin economy. The grandaddy of the modern games virtual currency is a Korean company called Nexon, and their game Maple Story. While it was not the first....
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