E-Commerce Company Mercado Libre Made $7.8 M BTC Purchase

by in Cryptocurrency News

Mercado Libre buys Bitcoin

On May 5, Buenos Aires-based e-commerce technology firm Mercado Libre published the Q1 results of the company, where it stated buying $7.8 million worth of BTC. The firm added recently acquired coins to its balance sheet.

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In the issued press release Mercado Libre published the progress of the first quarter of 2021. The firm noted that the Bitcoin trade was included in its treasury policy. Thus, the Latin American e-commerce provider became the most recent one to add BTC to its balance sheet. Previously, electric vehicle producer Tesla and digital payments provider Square made such moves.

Currently, BTC's price is at around $57.000 with its market cap above $1 trillion.

Mercado Libre is a Nasdaq-listed company that has over 267.8 million users and its market cap stands higher than $76 B.

The amount of the company's portfolio reached $576 M, which is twice larger compared to the Q1 of 2020.