bitcoin balance sheet, bitcoin treasury, ecommerce, Latin America, latin american, Marketplace, mercado libre, mercadolibre

Mercadolibre Inc., Latin America’s leading e-commerce company with almost 70 million users on its marketplace, has bought bitcoins worth almost $8 million for its treasury. With this move, the company has joined a growing list of corporations with the cryptocurrency on their balance sheets.

Mercadolibre Holds Bitcoin on Balance Sheet

Mercadolibre Inc. reported its first-quarter financial results Wednesday declaring that the company is holding bitcoin on its balance sheet.

An Argentine company incorporated in the U.S. that operates online marketplaces dedicated to e-commerce and auctions, Mercadolibre is listed on Nasdaq under the ticker symbol MELI. As of Wednesday, its market cap was $76.3 billion.

The company’s filing with the U.S. Securities and Exchange Commission (SEC) states:

Last week, the Latin American e-commerce giant announced that its customers could buy real estate with bitcoin.

In its Q1 earnings report, Mercadolibre revealed that its net revenues for the first quarter were $1.4 billion, a year-over-year increase of 111.4% in USD and 158.4% on an FX neutral basis. However, overall its net loss was $34 million. As a company operating out of Argentina, Mercadolibre also incurred foreign currency losses worth $15.1 million.

The company says its unique active users grew by 61.6% year-over-year, reaching 69.8 million. Its gross merchandise volume grew to $6.1 billion and successful items sold reached 222 million. In addition, live listings offered on Mercadolibre’s marketplace reached 299.5 million.

With this bitcoin buy, the e-commerce giant joins a growing list of companies that have chosen to add BTC to their balance sheets, including Elon Musk’s Tesla, Jack Dorsey’s Square, and Microstrategy.

What do you think about Mercadolibre holding bitcoin in its treasury? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

Amazon Job Listing Seeks Blockchain Lead – Internet Giant Looks to Create ‘Business Use Cases Across Defi’

Amazon is looking for a blockchain expert, according to a job posting published on the company’s employment portal. The firm wants someone who is “passionate about blockchain and decentralized networks†and someone who can build innovative “business use cases†across decentralized finance (defi). Online Marketplace Amazon Hopes to Hire a Head of Product to Lead […]

Xem chi tiết: Amazon Job Listing Seeks Blockchain Lead – Internet Giant Looks to Create ‘Business Use Cases Across Defi’

British Asset Manager Ruffer Bags $1.1 Billion Profit From Bitcoin

British asset management firm Ruffer reportedly said its bitcoin investment has generated about $1.1 billion in profit. The firm says bitcoin has been “a wonderful store of value†and it is still optimistic about the cryptocurrency in the long term. Ruffer Profits $1.1 Billion From Bitcoin Investment London-based asset management firm Ruffer revealed that it […]

Xem chi tiết: British Asset Manager Ruffer Bags $1.1 Billion Profit From Bitcoin

Microstrategy Selling $400M Bonds to Buy Bitcoin — Holding to Exceed 100,000 BTC

Microstrategy will soon hold more than 100,000 bitcoins in its treasury. The company is raising $400 million by selling senior secured notes and will use the proceeds to acquire additional bitcoins. Microstrategy Acquiring More Bitcoin Microstrategy Inc. (Nasdaq: MSTR) announced Monday it intends to offer $400 million of “senior secured notes due 2028†in a […]

Xem chi tiết: Microstrategy Selling $400M Bonds to Buy Bitcoin — Holding to Exceed 100,000 BTC

Q1 SEC Filing Shows Argentinian Tech Giant Globant Invested in Bitcoin

Globant, one of the big four tech firms in Argentina, has quietly made its first foray into the world of cryptocurrency investing, according to its latest filing to the SEC. The firm bought bitcoin during the first three months of this year, and is now part of a select number of LATAM unicorns that have […]

Xem chi tiết: Q1 SEC Filing Shows Argentinian Tech Giant Globant Invested in Bitcoin

Q1 SEC Filing Shows Argentinian Tech Giant Globant Invested in Bitcoin

Globant, one of the big four tech firms in Argentina, has quietly made its first foray into the world of cryptocurrency investing, according to its latest filing to the SEC. The firm bought bitcoin during the first three months of this year, and is now part of a select number of LATAM unicorns that have […]

Xem chi tiết: Q1 SEC Filing Shows Argentinian Tech Giant Globant Invested in Bitcoin

Ukraine’s Leading Soccer Team Dynamo Kyiv to Sell NFT Tickets

FC Dynamo Kyiv, the top team in the Ukrainian Premier League, is launching NFT tickets for the 2021 season. The legendary football club, which has the biggest fan following in Ukraine, is also going to offer supporters unique collectible items through a partnership with a blockchain company. Dynamo Kyiv Tickets to Be Listed on Binance […]

Xem chi tiết: Ukraine’s Leading Soccer Team Dynamo Kyiv to Sell NFT Tickets

Argentinean Police Detain Two People Connected to Alleged Crypto Scam Intense Live

As cryptocurrencies become a trending topic across Argentina, local authorities hunt virtual currencies scammers amid the coronavirus-driven crisis and high inflation levels. The Argentine Federal Police detained two members of an alleged pyramid scheme operating in a northern province. Investigations Initiated After Two Complaints Filed With the Authorities According to Valle Calchaquí, the operation happened […]

Xem chi tiết: Argentinean Police Detain Two People Connected to Alleged Crypto Scam Intense Live

Thai Public Company Brooker Group Invests $6.6 Million in Bitcoin

The Brooker Group has reportedly become the first publicly listed company in Thailand to hold bitcoin on its balance sheet. The company has disclosed that it has bought 122.3158 bitcoins worth $6.6 million or 200 million baht. Thai Public Company Invests in Bitcoin The number of public companies investing in bitcoin is growing worldwide. In […]

Xem chi tiết: Thai Public Company Brooker Group Invests $6.6 Million in Bitcoin

Argentinean Tax Body Asks Domestic Cryptocurrency Exchanges to Report Monthly Transactions and Wallet Balances

El Corte Ingles Files for a Crypto-Related Trademark to Provide ‘Financial Services’

Report Finds Argentineans Are Becoming Increasingly Interested in Bitcoin, Ethereum and Stablecoins

E-Commerce Giant Ebay Looking at Accepting Cryptocurrency for 187 Million Buyers, CEO Reveals

Customers From Latin American E-Commerce Giant Mercado Libre Can Buy Real Estate With Bitcoin

Bank of Brazil Becomes the First State-Backed Bank to Allow Customers Exposure to a Crypto ETF

Miami-Dade Officials Hope to Launch a Crypto Task Force, Residents Could Pay Taxes in Bitcoin Soon

Brazil’s Central Bank President Expects to Have News on a CBDC ‘Soon’

Other Articles