Mercado Libre Buys $7.8 ML In Bitcoin….
Add another to the list…this time we have “the Amazon of Latin America”, Mercado Libre…
MERCADO LIBRE, THE ‘AMAZON OF LATIN AMERICA,’ BUYS BITCOIN WORTH $7.8M
“On May 5, the world learned Argentina-based Mercado Libre grabbed up its own little bit of Bitcoin–a cool $7.8 million worth of the leading crytocurrency.
The announcement came not as a statement but more subtly in their 2021 Q1 filing. The eCommerce giant whose name in Spanish means literally ‘free market’ has, according to its earnings report, net revenues for its first quarter of $1.4 billion, a 111.4 percent year-over-year increase.
The filing does not indicate when the purchase was made nor how much it cost the company, but it does make a strong statement about putting faith in digital assets. Mercado Libre says that adding such digital assets is all part of their treasury strategy.”