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Largest Latin American eCommerce platform adds $7.8M Bitcoin to its treasury

May 5, 2021. Summarized by summa-bot.

Compression ratio: 59.2%. 1 min read.

The popular e-commerce platform has become the first large Latin American company to store Bitcoin in its treasury.

Mercado Libre, the largest e-commerce platform in Latin America, has announced to the U. S. Securities and Exchange Commission (SEC) that it acquired $7. 8 million in Bitcoin in the first quarter of 2021.

The purchase makes the Argentinean company the 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.

Mercado Libre's announcement makes it the 36th publicly listed company to hold Bitcoin according to Bitcoin Treasuries.

In addition, Marcos Galperín, founder and former CEO of Mercado Libre, has already announced publicly on several occasions that he has owned Bitcoin in his personal portfolio since 2013, and has also expressed a variety of bullish opinions regarding the cryptocurrency ecosystem in Latin America, even stating that he saw Bitcoin as a better store of value than gold.

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by summa-bot

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