MercadoLibre joined the ranks of ‘Futuristic Firms’ moving part of their corporate treasury into crypto
Argentina, May 5, 2021 /AlexaBlockchain/ – Latam e-commerce giant MercadoLibre has joined the ranks of ‘Futuristic Firms’ moving part of their corporate treasury to crypto.
MercadoLibre today announced that it has diversified its corporate treasury into Bitcoin, joining the innovative ranks of Tesla and MicroStrategy.
MercadoLibre says that it now holds $7.8 million in Bitcoin on its balance sheet. The company today revealed in a press release related to first quarter 2021 financial results:
“As part of our treasury strategy this quarter we purchased $7.8 million in bitcoin, a digital asset that we are disclosing within our indefinite-lived intangible assets.”
MercadoLibre’s net revenues for the first quarter were $1.4 billion, a year-over-year increase of 111.4% in US$ and 158.4% on an FX neutral basis.