Mercado Livre Buys $ 7.8 Million in Bitcoin, Reveals Document

0

Mercado Livre: A balance sheet released by the Securities and Exchange Commission of the United States last Wednesday (05) reveals that the Free Market invested US $ 7.8 million in Bitcoin in the first quarter of 2021 (more than R $ 40 million, in today’s price ).

According to the document, the purchase of virtual currencies, which are now part of the company’s “intangible assets of indefinite duration”, is part of a reserve preservation strategy.

The movement of the publicly traded company listed on Nasdaq, the North American stock exchange, which operates in Brazil and Mexico, among other countries, accompanies its growing adherence to cryptocurrency.

In April, for example, the unit started to be accepted as a form of payment for real estate on the platform in Argentina, where the giant’s headquarters is located.

Solid performance

In the statement, there is other information regarding the first quarter of 2021 of the Free Market. Net revenues of US $ 1.4 billion, total payment volume of US $ 14.7 billion and gross volume of goods of US $ 6.1 billion are some of them.

“Our financial results were once again marked by accelerated growth due to the strong demand for e-commerce and fintech services in a promising but still challenging environment”, highlights Pedro Arnt, the company’s financial director.

“Our solid quarterly performance illustrates our commitment to execute 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”, he concludes. .