Mercado Libre, the biggest e-commerce platform in Latin America, has introduced to the U.S. Securities and Trade Fee () that it acquired $7.8 million in within the first quarter of 2021. It said within the :
“As a part of our treasury technique this quarter we bought $7.8 million in Bitcoin, a digital asset that we’re disclosing inside our indefinite-lived intangible property”.
The acquisition makes the Argentinean firm the primary massive Latin American firm to amass Bitcoin for its treasury and sees it be part of an unique membership of corporations reminiscent of MicroStrategy and Tesla, which have beforehand introduced to the authorities the holding of BTC inside their property.
Simply final week main Japanese sport developer Nexonit had bought 1,717 BTC for it is steadiness sheet at a value of roughly $100 million. Mercado Libre’s announcement makes it the thirty sixth publicly listed firm to carry Bitcoin in accordance with . Mercado Libre trades on Nasdaq as MELI.
Mercado Libre’s wager on Bitcoin
Past the formal announcement, the connection of the favored eCommerce portal with Bitcoin shouldn’t be new. As beforehandCointelegraph en Español, on the finish of April it enabled using Bitcoin for his or her actual property verticals within the Argentine market.
As well as, Marcos Galperín, founder and former CEO of Mercado Libre, has alreadypublicly on a number of events that he has owned Bitcoin in his private portfolio since 2013, and has additionally expressed quite a lot of bullish opinions concerning the cryptocurrency ecosystem in Latin America, even stating that he noticed Bitcoin as a greater retailer of worth than gold.