Bitcoin and ETH remain attractive while Nexon purchased 1,717 BTC

The popular father of crypto Bitcoin saw its value stable for now. Bitcoin went over the $54,000 important level and continued to climb above $55,000. Later the increasing momentum drove the popular coin to a new spike beyond the $55,500 mark before taking a break by creating a short downside correction. Bitcoin's value is currently exchanging close to $54,700. A possible positive momentum could drive the coin to a new extension over the $55,500 mark.

Additionally, many significant altcoins are growing as well with the same speed. XRP/USD for example extended its value versus the USD and broke the $1.45 resistance before dropping below $1.40. The other popular crypto ETH continued its positive momentum and went above $2,648 while its value was exchanged to a new all-time top close to $2,708.

Those new extensions were accompanied by the news covering the popular Asian registered gaming giant, Nexon, that stated it obtained 1,717 BTC for approximately $100m, while the company "needs to think seriously about the future buying power of our cash in a world of potential currency debasement."

The popular company was spending on average $58,220 per BTC, including charges and costs, and did not reveal the platform they used for this investment.

Nexon is a member of a business group that further includes the crypto exchanges Bitstamp and Korbit.

This new Bitcoin investment expresses less than 2% of Nexon’s entire cash and cash equivalents on hand they explained.

Nexon announced that they hold more than $5 billion in cash and cash equivalents, fundamentally in the structure of JPY, USD, and more.

The new Nexon investment may be considered as a positive development for the general crypto fanatics sentiment. that positive sentiment may drive other smaller investors to follow.

Share: Cryptos feed

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.