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E-Commerce Giant Mercadolibre Buys Bitcoins Worth $7.8 Million for Treasury

Mercadolibre Inc., Latin America’s leading e-commerce company with almost 70 million users on its marketplace, has bought bitcoins worth almost $8 million for its treasury. With this move, the company has joined a growing list of corporations with the cryptocurrency on their balance sheets.
Mercadolibre Holds Bitcoin on Balance Sheet
Mercadolibre Inc. reported its first-quarter financial results Wednesday declaring that the company is holding bitcoin on its balance sheet.
An Argentine company incorporated in the U.S. that operates online marketplaces dedicated to e-commerce and auctions, Mercadolibre is listed on Nasdaq under the ticker symbol MELI. As of Wednesday, its market cap was $76.3 billion.
The company’s filing with the U.S. Securities and Exchange Commission (SEC) states:
As part of our treasury strategy this quarter we purchased $7.8 million in bitcoin, a digital asset that we are disclosing within our indefinite-lived intangible assets.
Last week, the Latin American e-c

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