Japanese video game developer Nexon has bought 1,717 Bitcoins for around $100 million at a price of about $58,200 each. According to the company CEO Owen Mahoney, the investment represents less than 2% of Nexon's total funds. He added:
"In the current economic environment, we believe Bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments."
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Mahoney has said Bitcoin is likely to retain its value even though it has yet to achieve widespread adoption.
Nexon, a company that was founded back in 1994, has more than 50 live games available in more than 190 countries.
MicroStrategy remains the largest public company holding Bitcoins. At the moment, it holds 91,500 BTC valued at around $5 billion.