Nexon buys $100 million in Bitcoin, which represents almost 2% of company’s total cash

Nexon has become the first gaming company to publicly purchase cryptocurrency buying 1,717 Bitcoins for $100 million.

The publisher shared the news on its official website. “In the current economic environment, we believe bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments,” Nexon CEO Owen Mahoney said.

Nexon joins other big companies which purchased Bitcoin recently. The list includes Tesla, Square, and MicroStrategy. According to Bitcoin Treasuries, the latter currently owns ₿91,579 (around $4.97 billion).

Nexon is a South-Korean publisher and the third-largest game company in Asia outside Japan, right after Tencent and NetEase. It is known for franchises like KartRider, MapleStory, and Dungeon&Fighter, having over 50 live games at this moment.