Globant, the software engineering and information technology solutions company, considered one of the 4 Argentine unicorns, revealed an investment of $500.000 in Bitcoin, made during the first quarter of the year.
In a Valid identity document presented to the United States Securities and Exchange Commission (SEC), the technological solutions company Globant revealed a $500.000 investment in Bitcoin (BTC), The main cryptocurrency of the industry by capitalization.
In its financial statements presentation document, Globant details that the company made a total purchase of half a million dollars ($500.000 USD) in digital assets, “composed solely of bitcoin.” According to the company, the purchase was made as an intangible asset with an indefinite life, so the company will be able to keep the acquired cryptocurrencies for as long as it wishes, in accordance with the IAS 38 Intangible Assets standard.
“Bitcoin is a cryptocurrency that is considered an intangible asset with an indefinite life because bitcoin lacks physical form and there is no limit to its useful life.”
Globant is the second Argentine company to reveal investments in bitcoin this year, after Free marketAt the beginning of May, the Latin American online commerce giant reported that it had invested almost 8 million dollars in Bitcoin during the first quarter of 2021.
Mercado Libre said that the purchase of cryptocurrencies is part of its new treasury strategies. In January, Marcos Galperin, CEO of this company, declared that cryptocurrency was a better investment and a better store of value than gold.
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Argentine unicorns begin to invest in Bitcoin
Globant and Mercado Libre are two of Argentina’s largest companies, known as “unicorns.” The term refers to emerging companies with great growth potential in the markets, whose valuation exceeded $1.000 billion before going public.
In the case of Globant, the company's current market capitalization amounts to more than 8.600 million. Globant is dedicated to providing software services and technological solutions combining new trends in technology and Artificial Intelligence (AI).
Its entry into the world of Bitcoin and cryptocurrencies marks a milestone for the company, and for the crypto industry in general, which adds a new institutional investor to its roster.
The company, which was founded in Argentina in 2003, now has offices internationally, located in the United Kingdom, Spain, the United States, Mexico, Brazil and India. Globant plans to continue its expansion and drive development, innovation and digital transformation, and what better way to do so than by setting foot in the revolutionary cryptocurrency industry.
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