Nexon becomes the first publicly traded Japanese company to buy Bitcoin

The virus is spreading...

What Michael Saylor and MSTR started several months back is started to spread throughout the world.

First it was MSTR, then it was SQ TSLA and MARA (and a couple others), and now companies overseas are starting to follow that playbook...

Today, Nexon announced that it had purchased $100 million bitcoin.

The announcement can be seen here:

(Source: https://twitter.com/DocumentingBTC/status/1387385096819326979/photo/1)

This marks the first time a publicly traded company in Japan has made the leap, that I am aware of.

I suspect this won't be the last.

Most of the models project what would happen to the price of bitcoin if S&P 500 companies put 1% of their treasuries into bitcoin, but what if all the publicly traded companies in the world put 1% of their treasures into bitcoin, on average?

I think the previous models pretty much go out the window...

Here's the latest count of who holds what:

https://bitcointreasuries.org/

Onwards and upwards!