The largest online trading platform in Latin America, Mercado Libre, revealed that it has invested more than $7 million in Bitcoin, following in the footsteps of companies such as MicroStrategy, Tesla and Square that acquired the cryptocurrency as part of their treasury strategies. It seems that buying bitcoins is becoming a trend.
In her report of financial results for the first quarter of 2021, filed on May 5 with the United States Securities and Exchange Commission (SEC), Mercado Libre Inc., the company responsible for the development of the largest online commerce platform in Latin America, reported its investment of 7,8 million dollars in the purchase of Bitcoin (BTC).
Mercado Libre reported that the investment in bitcoins responds to its treasury strategy, which allows it to invest in assets, such as BTC, to include them within its intangible assets of “long life.” The Latin American company reaffirms the potential of Bitcoin as a reserve asset of value, which has attracted dozens of companies to invest in the cryptocurrency since the middle of last year. microstrategy, Tesla y Square have become, so far, the main institutional investors in BTC, with more than $3.600 billion deposited in this digital asset.
Earlier this month, Mercado Libre stated that Bitcoin and the cryptocurrencies, They are an innovative safe haven and reported that from its main headquarters in Argentina it would begin to implement the sale of real estate properties in BTC, offering more than 70 properties that can already be purchased with the cryptocurrency from its platform. The market capitalization of this company exceeded 100.000 billion dollars by January of this year and was chosen by TIME magazine among the 100 most influential companies in 2021.
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Mass adoption of BTC is coming
There is no doubt that Bitcoin has positioned itself as a leading asset for investment and safe haven in recent years. This interest, which arose in mid-2020 and has generated great benefits for companies that have decided to invest in the cryptocurrency, is closely related to the need to seek alternative protection against fiat money inflation.
MicroStrategy, which is the largest institutional investor in BTC, with nearly $2.200 billion of its reserves invested in the purchase of over 91.000 BTC, noted that its strategy of adopting and investing in the cryptocurrency allows it to guarantee its future value.
Michael saylorMicroStrategy CEO has repeatedly stated that Bitcoin “is digital gold,” and that its distinctive properties make it a far more durable, stronger, faster, easier to use, and smarter form of money than any other form of money that has preceded it—particularly government fiat money.
This view is shared by many other Bitcoin advocates and investors, who continue to bet on the cryptocurrency. Even investment funds such as BlackRock are betting heavily on cryptocurrency. Other companies like Paypal, View y Mastercard are giving BTC, cryptocurrencies and stablecoins the thumbs up by including them in their payment networks, and the world's major banks, such as BNY Mellon, JPMorgan, Goldman Sachs and several others, are changing their perspective and including cryptocurrency financial services to their product offering.
Although Mercado Libre did not detail the exact time of the purchase or the amount of bitcoins acquired with its investment, it is estimated that it holds between 130 and 260 BTC, with a purchase price of $60.000 and $30.000.
At press time, BTC is trading at a value of $57.300, and its market capitalization exceeds $1,07 trillion.
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