E-Commerce Platform Mercado Libre Adds Bitcoin (BTC) Worth $7.8M To Its Treasury
The biggest e-commerce platform of Latin America, Mercado Libre, has recently purchased $7.8 million worth of Bitcoin, thus making it the 36th company (that is publicly traded in nature) to add BTC on its official balance sheet. Mercado Libre had announced this acquisition to the SEC and made it known that this purchase had occurred within the 1st quarter of this year.
In the official report, Mercado Libre had stated that the purchase went hand in hand with its financial strategy for the quarter and that BTC is being disclosed along with the rest of the platform’s permanent, intangible assets.
Mercado Libre joins an exclusive club
Mercado Libre is an Argentinian company and, as aforementioned, is also the very 1st big-time company in all of Latin America that has managed to obtain BTC for its respective treasury. As of the time of this writing, Nasdaq is the place where Mercado Libre tends to focus its trading efforts, and it is listed there as MELI. Furthermore, this acquisition has helped the company become a part of a rather exclusive group of various companies, all of which have already added BTC to their list of digital assets. These include the likes of Tesla as well as MicroStrategy.
Not to be outdone, a game developer of Japanese origin, Nexon, had also made it known that it had bought just about 1,720 BTC at the cost of approximately $100 million and has since added this amount to its own balance sheet as well, thereby proving that companies all over the world are vastly interested in the world’s flagship cryptocurrency.
BTC a reoccurring bet for Mercado Libre
Although the e-commerce platform only recently announced its BTC purchase, its interest and relationship with Bitcoin are actually not new at all. In fact, it had been just during the last month in April 2021 that Mercado Libre had allowed BTC to be utilized for the purpose of real estate verticals within the overall Argentine market.
Moreover, the former CEO and founder of the company, Marcos Galperin, had made it common knowledge that he owns BTC along with some other altcoins in his portfolio. He further expressed some bullish opinions about the overall crypto infrastructure and ecosystem within Latin America and even went as far as to say that BTC may be more valuable than gold itself.
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