Elon Musk tweets and Dogecoin (DOGE) turns steep

The fact that investments in Bitcoin protect against inflation-related loss of value is one of the cornerstones of the BTC narrative. The Japanese-South Korean company Nexos has given it new credibility.

The major video game publisher Nexon has stocked up on Bitcoin. The Japan-based company acquired 1,717 BTC and spent approximately $ 100 million on it, which is less than two percent of its cash on hand.

Nexon made the investment on April 28th public. The company paid an average of around $ 58,000 per bitcoin. According to CEO Owen Mahoney, this is the way to protect your own cash assets from inflationary losses:

Our purchase of Bitcoin reflects a disciplined strategy to protect shareholder value and maintain the purchasing power of our cash wealth. In the current economic environment, we believe that Bitcoin guarantees long-term stability and liquidity while maintaining the value of our cash for future investments.

Nexos specializes in the development and distribution of online games. The company has been listed on the Tokyo Stock Exchange since 2011. Since 2020 it has also been part of the Japanese leading index Nikkei 225. The company’s more than 50 multiplayer games currently active include Maplestory and KartRider.

Bitcoin reserves trending

Meanwhile, Nexos isn’t the only company using Bitcoin as a store of value. In addition to prominent examples like the IT giant MicroStrategy recently even discovered that Time Magazine the benefits of BTC. With the help of Grayscale, the renowned journal now wants to build up Bitcoin reserves, and customers can also use the most important crypto currency to buy media content.

The case of Tesa also caused a stir. After Elon Musk’s car company acquired Bitcon with publicity, Tesla recently sold 10 percent of its own reserves. The carmaker improved its balance sheet result, according to Musk they also wanted to prove the suitability of BTC as a liquidity guarantee.