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How much would Globant and Mercado Libre lose if they sold their Bitcoin reserves?

But while some entities turn on the alerts due to the behavior of cryptocurrencies, fintech market analysts maintain that the growth of cryptocurrency applications globally skyrocketed 902% compared to the fourth quarter of 2021. Cryptocurrencies ceased to be a niche asset to begin to propel itself towards the large financial holders and small savers.

Contrary to the ECB forecast and in line with the outlook for small decision makers, the most important e-commerce service in Latin America, Mercado Libre, and the software giant, Globant, began to experiment with Bitcoin to function as a store of value. The decision is framed in an adverse context, marked by the growth in inflation expectations in the United States and the significant increase in the interest rate that it implemented and that the Federal Reserve could intensify in order to combat it.

How much would they lose if Bitcoin crashed?

The crypto news of the last two weeks was without a doubt the debacle of the Moon/Terra pair. The impact that this produced on assets with higher capitalization such as Bitcoin brought consequences in the valuation of those investments made by companies such as Mercado Libre and Globant.

The company founded by Marcos Galperín reported in the report for the first quarter of 2021 its first investment of $7,800,000 worth of Bitcoin. It only took weeks to find out that Globant would make the same decision, although for a significantly lower amount: $500,000.

As calculated by Bloomberg Line, in March 2021, when MercadoLibre invested in Bitcoin, the cryptocurrency was trading US$ 58,776. In May, when the investment of Globant, the currency had fallen sharply to $37,366.

From that period to the present, Bitcoin has lost half its value since a November 10 peak of $69,000. This week, he was flirting with the $30,000.

In that sense, yes Mercado Libre sold its holding of the cryptocurrency today, it would record a loss of close to US$3,868,000 (-49.6%). Globant would lose US$103,520 (-20.7%).

Even so, the figures would not mean incommensurable losses for the balance sheets of both companies that are valued well over a billion dollars.

The Chronicler – RIPE

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