Argentina Is Embracing Bitcoin, To Maintain The Purchasing Power Of Their Assets

Mercado Libre, the largest e-commerce platform in Latin America, has announced to the U.S. Securities and Exchange Commission (SEC) that it acquired $7.8 million in Bitcoin in the first quarter of 2021. It stated in the report:

“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”.

As CoinTelegraph reports, the purchase makes the Argentinean company the first large Latin American company to acquire Bitcoin for its treasury.