Mercado Libre is Latin America’s largest e-commerce platform and, with the purchase of bitcoin (BTC), is the 36th listed company to have bitcoin (BTC) on its balance sheet.
The company has made this known with the US Securities and Exchange Commission (SEC). In a report she stated the following:
“As part of our ‘treasury strategy’, we purchased $ 7.8 million in bitcoin this quarter, a digital asset that we place within our intangible assets with an indefinite life.”
Argentina’s Mercado Libre is the first major Latin American company to add bitcoin to their assets, joining an exclusive roster of companies such as Tesla and MicroStrategy, previously known to own BTC.
Japanese game developer Nexon also announced last week that they have added BTC to its balance sheet. This concerns 1,717 BTC for an amount of about $ 100 million. As mentioned, Mercado Libre is the 36th listed company to add to the list of bitcoin owners. A share of the company can be found on Nasdaq as MELI.
Mercado Libre is betting on bitcoin
The announcement may now be official, but the relationship with BTC is not new. According to Cointelegraph, it has been possible to be active with bitcoin in real estate on the Argentine market since the end of April.
In addition, the company’s founder and ex-CEO, Marcos Galperín, has publicly stated on several occasions that he personally owns bitcoin since 2013. He has also repeatedly stated that he is bullish on crypto markets in Latin America and believes it is better to put money in BTC than gold.