Cryptocurrency is gaining traction around the world, and Latin American businesses are following suit. MercadoLibre, a Latin American e-commerce and fintech company, revealed on Wednesday that it now holds bitcoin in its balance sheet worth $7.8 million. It was called the company’s treasury strategy, and it was classified as one of the company’s indefinite-lived intangible assets.”
It’s unclear when the purchase took place. However, a review of the balance sheet reveals that it was included in the financial results for the first quarter of 2021, which ended on March 31, 2021.