As expected, after Tesla invests in Bitcoin (BTC) there will definitely be other firms following the trend.
Most recently, Nexon Co. reportedly has bought a total of $ 100 million worth of bitcoin assets, making it one of the latest firms to join the crypto wave.
Nexon was founded in 1994, a firm that focuses on the production, development and operation of online games and virtual worlds.
The store to the online games MapleStory and Counter-Strike had bought 1,717 bitcoins when the price hit around $ 58,226 per unit, including purchase costs.
The purchase represents less than 2% of the total cash and cash equivalents owned by the online game provider company. In fact, it is also the largest digital asset purchase record ever made by a firm in Tokyo.
According to Nexon CEO Owen Mahoney’s bitcoin purchases prove they are committed to protecting shareholder value including maintaining the purchasing power of cash assets.
For the record, this trend began when MicroStrategy bought 21,000 BTC ($ 250 million) in August 2020, followed by Square ($ 50 million) in October and Tesla ($ 1.5 billion) in late 2020.
