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Seeking Alpha 2021-05-05 21:19:35

MercadoLibre adds bitcoin to balance sheet

Alongside Q1 earnings results, MercadoLibre (MELI) announces the purchase of $7.8M worth of bitcoin (BTC-USD).It's but a small portion of total current assets of $3.9B, and cash and cash equivalents of nearly $1.2B, but the move nevertheless means another publicly-traded name - in this case Latin America's largest e-commerce company - is putting a portion of its treasury holdings in bitcoin.The earnings call begins at 5:30 PM ET.Shares are up 1.3% after hours.

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