Large corporations in Argentina and Brazil are embracing Bitcoin by establishing BTC-based treasuries. Cointelegraph explains why.
While discussions about incorporating cryptocurrency into corporate reserves are slowly gaining traction in the United States, some of Latin America’s largest corporations are already jumping on the Bitcoin bandwagon—racking up significant gains on their investments and expanding crypto services to end-users in the process.
Following the lead of major firms like Strategy (formerly known as MicroStrategy) and even sovereign nations like El Salvador, which have accumulated significant amounts of Bitcoin, many in the region have turned to cryptocurrency as a way of diversifying savings and as a hedge against inflation which persistently plagues the continent.
Three Argentine companies, including Mercado Libre, the largest publicly traded firm in the entire region, currently hold a combined total of 1,300 Bitcoin in assets, according to data compiled by BitcoinTreasuries.NET on corporate and sovereign holdings.
Read more,### Key Points from the Article:
– **Crypto Adoption in Latin America:** Major corporations in Argentina and Brazil are incorporating Bitcoin into their financial strategies, a trend seeing slower adoption in the U.S.
– **Inflation Hedge:** Firms in Latin America are looking at Bitcoin to diversify their corporate reserves and protect against the region’s high inflation rates.
– **Notable Adoption Examples:**
– Mercado Libre, the largest publicly traded company in Latin America, along with two other Argentine companies, collectively hold 1,300 Bitcoin.
– These actions follow international precedents set by companies like Strategy (formerly MicroStrategy) and countries like El Salvador.
### Hot Take:
Those crafty corporations in Argentina and Brazil are skipping traditional piggy banks and filling their digital wallets with Bitcoin instead! By turning to crypto amidst skyrocketing inflation, these companies aren’t just jumping on a trend—they’re leaping onto a potential liferaft. Meanwhile, the U.S. is still tying its crypto lifejackets, trying not to fall behind. Watch out, world! Latin America is not just embracing the future; they’re making it rain (crypto)! 💸🚀
#### Tags:
#Bitcoin, #Cryptocurrency, #Argentina, #Brazil, #InflationHedge, #CorporateStrategy, #MercadoLibre, #LatinAmerica
