Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

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

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-commerce giant announced that its customers could buy real estate with bitcoin.

In its Q1 earnings report, Mercadolibre revealed that its net revenues for the first quarter were $1.4 billion, a year-over-year increase of 111.4% in USD and 158.4% on an FX neutral basis. However, overall its net loss was $34 million. As a company operating out of Argentina, Mercadolibre also incurred foreign currency losses worth $15.1 million.

The company says its unique active users grew by 61.6% year-over-year, reaching 69.8 million. Its gross merchandise volume grew to $6.1 billion and successful items sold reached 222 million. In addition, live listings offered on Mercadolibre’s marketplace reached 299.5 million.

With this bitcoin buy, the e-commerce giant joins a growing list of companies that have chosen to add BTC to their balance sheets, including Elon Musk’s Tesla, Jack Dorsey’s Square, and Microstrategy.

What do you think about Mercadolibre holding bitcoin in its treasury? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more

Bitcoin breaking new highs in Q4 will ‘temporarily turn alts to dust’ — Analyst

Things will get exciting in quarter four, but not before a convincing floor is put in across crypto, analysts say this week. Bitcoin ( BTC ) was busy losing its overnight gains on Sept. 27 as resistance continued to prove too much for bulls.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst on Bitcoin: “Right now, we’re stuck” Data from Cointelegraph Markets Pro and TradingView  showed BTC/USD dropping to around $1,000 below overnight highs of $44,400 on Bitstamp on Sept. 27.  The move constitutes a rejection at a “critical” zone to break, Cointelegraph contributor Michaël van de Poppe explained, with $42,000 now the key level to hold for a higher low. Bitcoin is acting in an increasingly narrow range, he summarized in his latest YouTube update. “Right now, we’re stuck,” he said, pointing to $47,000 as next should the $44,600 zone be reclaimed. On the downside, the zone between $38,000 and $40,000 remains valid for a bounce, while a co...
Post a Comment
Read more

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more