Latin American Mercado Libre announces bitcoin acquisition
RIO DE JANEIRO, BRAZIL – On Wednesday, May 5th, Mercado Libre, the Latin American e-commerce fintech company, said in a regulatory filing that it owns bitcoin (BTC) on its financial statements.
According to a press release announcing its first-quarter 2021 results, the company explained, “as part of our treasury strategy, this semester we acquired US$7.8 million in bitcoin, a cryptoasset that we are disclosing among our intangible assets to be held indefinitely.”
It is unclear when the acquisition occurred, although the financial results cover the first quarter, ending March 31st, 2021.
The company becomes the latest listed company (MELI34) to add bitcoin to its holdings. Other names include automaker Tesla (TSLA; TSLA34) and payments company Square (S2QU34).
Mercado Libre has a market capitalization of over US$76 billion.
Source: Moneytimes
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