E-Commerce Platform Of Latin America Adds Bitcoin In Treasury

One of the widely popular e-commerce platforms of Latin America, Mercado Libre, has announced that in the first quarter of the year 2021, they have added an enormous amount of Bitcoin to their treasury. With the help of the U.S. Securities and Exchange Commission (SEC), Mercado Libre has acquired a total of 7.8 million USD. 

The company, which is based in Argentina, is the first company in Latin America to offer its customers Bitcoin services. The Argentinian company has joined the cryptocurrency using companies list, which includes Tesla, MicroStrategy, and few others.

As the recent report of Bitcoin Treasuries states, Mercado Libre has become the 36th company to hold Bitcoin in its possession. Last week, Japanese game developing giant Nexon joined this list as they purchased 1717 Bitcoins instead of their balance sheet worth 100 million USD. Mercado Libre has announced that they will be trading on Nasdaq as MELI. 

As reported by Cointelegraph en Español earlier this month, Mercado Libre has started using Bitcoins since the end of April in 2021. The company started offering the use of Bitcoins to users who want to purchase real estate properties. 

The founder and former CEO of Mercado Libre, Mr. Marcos Galperín, has already mentioned in several interviews earlier that he owned Bitcoins since 2013. Mr. Galperín has also expressed his opinion about the use of cryptocurrencies in Latin America. He also stated that he thinks that Bitcoin is a better investment option than gold.

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