$7.8M Bitcoin added to the treasury of the Largest Latin American eCommerce platform

$7.8M Bitcoin added to the treasury of the Largest Latin American eCommerce platform

The United States Securities and Exchange Commission (SEC) has been told by Mercado Libre, the largest e-commerce platform in Latin America, that it is has gotten $7.8 million in Bitcoin in 2021 first quarter.

In their report to the US SEC, they stated that they purchased $7.8 million in Bitcoin as part of their treasury strategy and which they are disclosing the digital asset within their indefinite-lived intangible assets.

However with the purchase, the Aregntinean Company, Mercado Libre, becomes  first large Latin American company to acquire Bitcoin for its treasury and sees it join an exclusive club of companies such as MicroStrategy and Tesla, which have previously announced to the authorities the holding of BTC within their assets.

Just last week major Japanese game developer Nexon announced it had purchased 1,717 BTC for it’s balance sheet at a cost of roughly $100 million. Mercado Libre’s announcement makes it the 36th publicly listed company to hold Bitcoin according to Bitcoin Treasuries. Mercado Libre trades on Nasdaq as MELI.

Be the first to comment

Leave a Reply

Your email address will not be published.