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..?
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Tokyo-Based Game Maker Nexon Purchased $100M in BitcoinThat'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.