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Nexon and Wemade Confirm No Plans to Profit from Bitcoin Holdings

Key Points:

Nexon views Bitcoin as a stable cash-equivalent asset, not for short-term trading.
Wemade confirms its Bitcoin purchase is purely for investment, with no plans to cash out.
Nexon and Wemade emphasize Bitcoin holdings as a strategic, long-term asset.

According to a recent statement given to Edaily, two of South Korea’s biggest gaming companies, Nexon and Wemade, clarified their stance on Bitcoin holdings, confirming they currently have no plans to realize gains from those investments.

Nexon and Wemade Clarify Bitcoin Holding Strategies

Nexon and Wemade maintained that their Bitcoin acquisitions are for long-term investment and would not engage in short-term buying and selling based on speculative market fluctuations.

Nexon, one of the largest players within the industry, holds 1,717 Bitcoins with an average purchase price of $58,226 per coin. Despite the volatility in Bitcoin’s price, Nexon maintains that the cryptocurrency is an asset no different from cash. This proves to be a very conservative strategy, as Nexon has indicated that it will not trade or sell Bitcoin because of fluctuating market conditions. Instead, the company views its Bitcoin holdings as a stable, long-term investment.

Nexon Holds Over 1,700 Bitcoins for Long-Term Investment

In the meantime, another leading South Korean game company, Wemade, holds 223 Bitcoins, although the company has not disclosed the average purchase price. Wemade’s representative explained that the acquisition of Bitcoin was purely for investment and that the firm has no plan to liquidate such holdings anytime soon. Like Nexon, Wemade also intends to hold on to Bitcoin in the long term, seeking a profit from its growth rather than short-term gains.

Both companies’ commitment to holding their Bitcoin assets speaks to a wider trend in the gaming and tech industries, where more firms consider cryptocurrency a legitimate long-term investment. With Bitcoin’s evolution, Nexon and Wemade’s decisions show how fast digital currencies become quite legitimate, stable ways of managing assets against the high volatility in the markets.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.