Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
The bid was an effort by the company to generate profits and growth by leveraging capital.
On 28 April, the day of the announcement, Nexon’s share price initially jumped 0.8% to an intraday high of JPY3,640 before closing at JPY3,610 — unchanged from the previous day’s close.
Despite a volatile January, shares in the gaming publisher began to pick up momentum throughout February and March to end the first quarter up 12.9%.
“In this environment, we see BTC as a form of cash likely to retain its value, even if it is not yet widely recognised as such.
Founded in 1994, Nexon has been a part of the entertainment industry’s transition to an online, virtually connected world.
Nexon joined a growing list of global companies, including Tesla, Square , that have made Bitcoin purchases in recent months.
No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research.
CMC Markets does not endorse or offer opinion on the trading strategies used by the author.
You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.