Latin American e-Commerce Giant MercadoLibre Reveals Treasury Bitcoin Buy

The mass adoption of Bitcoin exploded recently and it’s been just revealed that there are more mobes in this direction supporting the booming adoption of the king coin.

According to the official notes coming from The Block Crypto, MercadoLibre, the Latin American e-commerce and fintech company, said in a Wednesday regulatory filing that it now holds BTC on its balance sheet.

In an official statement, the firm said that in its first-quarter results for 2021, “[a]s 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.”

According to the same notes, the exact timing of the purchase is not clear, though the financial results cover the first quarter ending March 31, 2021.

Following this important move, the firm becomes the latest publicly-traded company to add BTC to its balance sheet. Others include automaker Tesla and payments firm Square.

Bitcoin adoption explodes – BTC to reach hundreds of US banks

CNBC learned that Bitcoin could be taking another massive step towards the mainstream adoption in 2021.

It’s been revealed that the customers of some US banks will be able to buy, hold and sell BTC via their already existing accounts, says crypto custody firm NYDIG.

According to the reports, the company is a subsidiary of $10 billion New York-based asset manager Stone Ridge, and it has partnered with fintech giant Fidelity National Information Services (FIS) to enable U.S. banks to offer BTC in the coming months, according to the two firms.

CNBC says that “Hundreds of banks are already enrolled in the program, according to Patrick Sells, head of bank solutions at NYDIG.”

The notes say that while the firm is in the talks with some of the biggest U.S. banks.

Regarding the price of Bitcoin, at the moment of writing this article, BTC is trading in the red and the king coin is priced at $56,951.25.

Previous ArticleScantrust And Cardano Counterfeit Solution: The Importance Of Traceability TransparencyNext ArticleDecentralized Exchange Protocol Uniswap v3 Goes Live On Ethereum
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.
>
Exit mobile version