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Cryptocurrencies

Asian companies accelerate shift to bitcoin as price surges

South Korean gaming giant Nexon buys $100m in the cryptocurrency, following Tesla

TOKYO -- Companies in Asia are beginning to bet on cryptocurrencies, with South Korean gaming giant Nexon following the lead of companies such as Tesla and digital payments specialist Square, with a $100 million allocation into bitcoin.

On April 28, Nexon said that it has shifted part of its cash into the cryptocurrency, purchasing 1,717 bitcoins at an average price of about $58,226 per bitcoin, including fees and expenses, for around $100 million.

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