Tokyo-Based Game Maker Nexon Purchased $100M in Bitcoin

Jating

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Quote from: bakasabo on April 30, 2021, 01:39:19 AM

Did they buy $100m worth of Bitcoin just for hold or they simply plan to attract more attention to their company? If they are Asian game company, and everybody knows how players from Asia like grind-like-games, I think it was not just a purchase. They will produce an NFT base games or something of that kind.

Probably, so there's a lot of window for them for purchasing bitcoin. So it's a good decision as it could be a win win situation. If bitcoin goes up, so is their reserve assets, if bitcoiners found out about their investments, maybe they are also going to invest on their company. And then we have the world of NFT which they can take advantage as well.

So it's a well thought process by the company, specially that they mentioned that they are in for the long run. So they might have set the precedence in Japan and other tech companies might follow their footsteps.

bakasabo

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Did they buy $100m worth of Bitcoin just for hold or they simply plan to attract more attention to their company? If they are Asian game company, and everybody knows how players from Asia like grind-like-games, I think it was not just a purchase. They will produce an NFT base games or something of that kind.

Wasnt it Asia, were gambling for real money is prohibited, and instead they use small balls as a bet (in slots, video games, card games and etc) and then exchange balls to money? Basically it will look like they did not gamble with real money. Same will crypto, which they ban and unban the other day.

davis196

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Nexon is a big name is the Japanese gaming industry.I think that they own shares in Konami,Sega,Namco,Bandai and other gaming companies in Japan.This is definitely good news for Bitcoin.
Japan was one of the most Bitcoin-friendly countries during the last few years,but news about BTC adoption in Japan were pretty rare during 2020 and the current year.
I really hope that other Japanese corporations will join the Bitcoin army.

TastyChillySauce00

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Could've been earlier to make the entry but still good thing nonetheless, if they are technology firm then there's a big chance that they gonna implement somewhat blockchain related thing to their product in the future, maybe if they could somehow further advance NFTs for their games making NFT somewhat more useful than it is right now maybe that's gonna be great but japanese company nowadays deemed as somewhat slow in innovation so maybe it's just to diversify the company portfolio and increase the profit they might gain.

cabron

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Congrats to them for not buying at ATH price. Lots of talks in crypto about the price being the peak but yep I guess they are not too late still if the possibility of $100K comes true.

Even the not finance institutions are buying BTC already but they are doing it to protect their shareholders because of the economic situation we are experiencing today.

hd49728

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I think news from institutional investments finished their roles to help Bitcoin began its parabola. Like SEC news three and two years ago finished its role to bring the Bitcoin market to the bullish period.

Bitcoin will grow more and future big jumps will be supported by other news types, not by institutional investments. We are boring with those news and need new types of news to digest. The market need something new and exciting to get hyped again.

meanwords

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Quote from: lifeforcepools on April 28, 2021, 10:26:53 AM

That's the right decision. Although they chose the wrong time for this.

But there's no wrong time. You can invest in Bitcoin anytime because of it's long-term capabilities to go higher. Just look at the past years, people keeps saying it's the wrong time to invest but you would regret not buying at that time.

Nexon did a fantastic job investing in Bitcoin. Though it's only 2% of their reserves, it's still a significant amount.

masterrex

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Quote from: Ramaraj on April 28, 2021, 03:23:05 AM

Nexon has announced that it has purchased about 1,717 Bitcoin (BTC) for $100 million. In addition, Nexon is a Tokyo-based video game maker that becomes the latest publicly listed technology firm in Japan.
whats ur thought on this..?
Read more on Tokyo-Based Game Maker Nexon Purchased $100M in Bitcoin

Wow, that was huge money 100 million dollars? Well, it can mean a lot in the crypto market, truly Bitcoin adoption in the mainstream is happening now although it was slower, but I'm sure it will continue to be adopted. by the way, after Nexon what's next, I believe that it's more to come that's why the market is rising again after the dip in the previous days. hopefully, it will happen.

pixie85

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Quote from: Assface16678 on April 28, 2021, 03:49:37 AM

My thoughts on this is that it will probably bump up the prices although it wouldn't be a lot compared to the 1.5 billion of Tesla, I hope that more companies follow what Nexon did, maybe we will see Sony, Nintendo and other game companies buy bitcoin.

It hasn't because they bought for more than BTC is worth now. This means that the amount was so small that it did not change anything for the market. More scared investors sold, especially people who had leveraged positions.

Long term we are still in a bull market and should go towards 100 thousand later this year but we're facing the highest number of sellers since the beginning of 2020.

capcaypro

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of course this will be a good thing even though it is still not in line with Testla or the elon billionaire but still this news is very good. they can maximize profits by joining in bitcoin. Besides that for ordinary traders it is also very profitable because more or less it results in an increase in the price itself.
For the future, I hope that more companies will participate and buy bitcoin

lifeforcepools

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That's the right decision. Although they chose the wrong time for this.

acroman08

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good for them. it seems like they are experimenting on the crypto market(they may not say it but it does look that way) and I'm glad they did.

Quote from: DapanasFruit on April 28, 2021, 03:46:37 AM

Are they also accepting Bitcoin in their business operations?

checked around google but it seems that they aren't but I'd assume with this move(them buying $100m worth of bitcoin) they'd consider and maybe start accepting BTC too just like tesla with their cars

jrrsparkles

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Quote from: Ramaraj on April 28, 2021, 03:23:05 AM

Nexon has announced that it has purchased about 1,717 Bitcoin (BTC) for $100 million. In addition, Nexon is a Tokyo-based video game maker that becomes the latest publicly listed technology firm in Japan.
whats ur thought on this..?
Read more on Tokyo-Based Game Maker Nexon Purchased $100M in Bitcoin

Maybe this happens after the investment made by Tesla so this is really a good thing for them. But Japan where cryptocurrency is already legalized so there is no wonder why they did but we don't know how many of the rich individuals invested in bitcoins which necessarily may not be in the name of their company.

kryptqnick

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I've never heard of this game producer before, so if they've made this investment and announcement for marketing purposes, I think it went very well. And since it's only 2% of their financial resources, it's a reasonable risk they're taking here to see whether Bitcoin can go up even further and brings them profits. Buying at $58k probably wasn't the best decision, but I hope they won't be ranting in a few months if the price goes down to $30k that they've lots tens of millions of dollars by investing it Bitcoin, 'cause that would be totally their fault.

CaVO32

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Quote from: yazher on April 28, 2021, 05:35:21 AM

Quote from: Ramaraj on April 28, 2021, 03:23:05 AM

Nexon has announced that it has purchased about 1,717 Bitcoin (BTC) for $100 million. In addition, Nexon is a Tokyo-based video game maker that becomes the latest publicly listed technology firm in Japan.
whats ur thought on this..?
Read more on Tokyo-Based Game Maker Nexon Purchased $100M in Bitcoin

That's a lot of BTC and surely that would affect the market well. the price has returned back to $55,154.08 I wonder if this event will hold the price to that high until it will reach the $60,000 mark again. Because this is not a small amount you know. a huge amount like this will make the market rise if there will be some big company will follow it up as well.

Based from the article, Nexon, "the firm bought BTC at an estimated amount of $58,226 per crypto". Including fees and expenses. So seems that they bought it at a higher price maybe OTC. This is a very good addition to companies that are holding large amounts of bitcoin. It also shows that companies are not losing their confidence over bitcoin. Even if they saw it dipped below 50k, still they bought it at a higher price. I believe there are also other companies buying their own bitcoin holdings but not publicly announcing it.

yazher

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Quote from: Ramaraj on April 28, 2021, 03:23:05 AM

Nexon has announced that it has purchased about 1,717 Bitcoin (BTC) for $100 million. In addition, Nexon is a Tokyo-based video game maker that becomes the latest publicly listed technology firm in Japan.
whats ur thought on this..?
Read more on Tokyo-Based Game Maker Nexon Purchased $100M in Bitcoin

That's a lot of BTC and surely that would affect the market well. the price has returned back to $55,154.08 I wonder if this event will hold the price to that high until it will reach the $60,000 mark again. Because this is not a small amount you know. a huge amount like this will make the market rise if there will be some big company will follow it up as well.

Assface16678

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Quote from: Poker Player on April 28, 2021, 04:04:47 AM

Quote from: Assface16678 on April 28, 2021, 03:49:37 AM

~

The point is that little by little we are going to see more and more companies buying, which, together with the reduced supply, will cause the price to continue to rise. A spike in price will come when one of the big players, such as Apple or Walmart, announces that it has bought.

As long as they buy bitcoin, right? What I can do is to be prepared to buy and accumulate more bitcoin before an eventual exponential rise in prices after all.

Poker Player

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Quote from: Assface16678 on April 28, 2021, 03:49:37 AM

My thoughts on this is that it will probably bump up the prices although it wouldn't be a lot compared to the 1.5 billion of Tesla, I hope that more companies follow what Nexon did, maybe we will see Sony, Nintendo and other game companies buy bitcoin.

The point is that little by little we are going to see more and more companies buying, which, together with the reduced supply, will cause the price to continue to rise. A spike in price will come when one of the big players, such as Apple or Walmart, announces that it has bought.

kotajikikox

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Quote from: Ramaraj on April 28, 2021, 03:23:05 AM

Nexon has announced that it has purchased about 1,717 Bitcoin (BTC) for $100 million. In addition, Nexon is a Tokyo-based video game maker that becomes the latest publicly listed technology firm in Japan.
whats ur thought on this..?
Read more on Tokyo-Based Game Maker Nexon Purchased $100M in Bitcoin

Actually since they are from Japan why does they took so long before Buying Bitcoin when their country supports Bitcoin for years now?

and if the Bitcoin price did not reached more than 50 thousand dollars they will still wait for this chance?

But yeah this is something we must be thankful , And lets take this as positive thing for the growing crypto community .

Assface16678

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My thoughts on this is that it will probably bump up the prices although it wouldn't be a lot compared to the 1.5 billion of Tesla, I hope that more companies follow what Nexon did, maybe we will see Sony, Nintendo and other game companies buy bitcoin.

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