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, Mercado Libre invests USD 7.8 million in Bitcoin, Forex-News, Forex-News
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Mercado Libre invests USD 7.8 million in Bitcoin

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, Mercado Libre invests USD 7.8 million in Bitcoin, Forex-News, Forex-News

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, Mercado Libre invests USD 7.8 million in Bitcoin, Forex-News, Forex-News
, Mercado Libre invests USD 7.8 million in Bitcoin, Forex-News, Forex-News

Yes, this is how you read it. The leading online market in Latin America, Mercado Libre, has invested USD 7.8 million in the leading crypto, Bitcoin; joining the trend of large firms such as MicroStrategy and Tesla.

Mercado Libre formalizes its investment relationship in Bitcoin

Yesterday the SEC filing was made public where Mercado Libre explains that, “As part of our treasury strategy, this quarter we invested $ 7.8 million in Bitcoin, a digital asset that we are disclosing within our indefinite-lived intangible assets”.

Therefore, the crypto purchase must have been executed at some point throughout the first quarter of 2021.

Thus, by adding Bitcoin to its balance sheet, Mercado Libre joins the ranks of MicroStrategy, Tesla and Square, companies that have made headlines in recent months with their massive investments in crypto.

It is worth mentioning that, as we reported from CryptoTendency, Mercado Libre recently presented a real estate platform through which crypto users could use Bitcoin.

Goldman Sachs to offer Wall Street crypto derivatives

As we have reported from CryptoTrend, the regulatory situation in the United States around crypto derivative products remains unclear. Nonetheless, according to a Bloomberg report, Goldman Sachs has begun using “undeliverable forward contracts” in crypto, specifically Bitcoin.

The new offering is “paving the way for us to develop our nascent cash-settled cryptocurrency capabilities,” Max Minton, Goldman’s chief digital asset officer, explained to Bloomberg.

In this way, Goldman Sachs, in coordination with Cumberland DRW, will buy and sell BTC futures in the CME options markets.

The IRS will have access to Kraken customer data

The US Department of Justice announced that the IRS is now authorized to serve a “summons from John Doe …” to crypto clients of Kraken and its parent company Payward Ventures Inc.

Basically the IRS, the United States tax control body, has obtained light to possess the identities of the crypto users who have traded on Kraken.

“Gathering the information in the summons approved today is an important step in ensuring that cryptocurrency owners comply with tax laws …”Explained David Hubbert, Acting Assistant Attorney General for the Department of Justice’s Tax Division.

As we have previously noted in CryptoTrend, the IRS is working hard to ensure that crypto users do not bypass the laws.

In this way, now the crypto exchange will have to provide all documents and transaction records.

The United States Congress should regulate crypto exchanges!

SEC Chairman Gary Gensler He suggested before the House Financial Services Committee that Congress should regulate crypto exchanges.

«Right now, there is no market regulator around these crypto exchanges … and therefore there really is no protection against fraud or manipulation … »Gensler explained.

In a few lines …

  • An auto insurer, Metromile, will adopt crypto payments and thus will buy $ 10 million worth of Bitcoin.
  • A potential Forbes buyer pointed out that a crypto wallet could be part of their Blockchain-based media strategy.
  • PlanB, creator of the S2F model, this ready for the ‘second leg’ of Bitcoin’s bull run.



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, Mercado Libre invests USD 7.8 million in Bitcoin, Forex-News, Forex-News

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