Mercado Libre adds cryptocurrencies to its balance sheet
In the first quarter, the company acquired USD 7.8 million in bitcoin, which has allowed the company to generate large profits
The most popular e-commerce platform in Latin America, Mercado Libre, announced its investment in bitcoin, as reported by the company through a report filed with the United States Securities and Exchange Commission (SEC).
The initiative makes the company the first of its kind in the Latin American region to add cryptocurrencies to its balance sheet. This progress generated in the first quarter of this year mean a great profit for the company.
According to the report, “as part of our treasury strategy, this quarter we purchased USD $ 7.8 million in bitcoins, a digital asset that we are disclosing within our indefinite-lived intangible assets.”
Among the dividends obtained, the e-commerce giant reported net incomes of USD 1,400 million and a year-on-year increase of 111.4 % in dollars. Regarding users traffic, the platform experienced growth in metrics of 61.6 % and for items sold 110.2 %.“
Our strong quarterly performance illustrates our commitment to executing our long-term strategic priorities as we remain focused on our purpose of democratizing access to trade and money in Latin America, recognizing the important economic role we play in the countries where we operate.”
K. Villarroel
Source: diariobitcoin
