Mercado Libre fails and records loss with Bitcoins

During the earnings release held last Wednesday (3), Mercado Livre announced that it had a treasury loss of less than US$ 10 million in the second quarter of 2022. According to the senior vice president of strategy at Mercado Livre, André Chaves, the losses were due to the devaluation of Bitcoin (BTC) in the period.

In the first quarter, the company purchased $7.8 million in the cryptocurrency as part of its portfolio diversification strategy. At the time, the position corresponded to R$ 40.9 million. According to its latest balance sheet, the company recorded an accounting loss of $11 million on digital assets for the first six months of 2022.

Although the result was negative in the treasury, Chaves highlights that Mercado Livre’s plans on offering cryptocurrencies on the Mercado Pago platform have not changed. “We are comfortable with our strategy of offering cryptocurrencies to customers, even in the current scenario”, pointed out the executive.

Cryptocurrencies in the Free Market

Since November 2021, Mercado Livre has offered to buy and sell Bitcoin, Ethereum (ETH) and USDP, a cryptocurrency that has parity with the dollar. On the launch date, Túlio Oliveira, vice president of MercadoPago, stated that the institution took “time to study and learn before deciding to enter cryptocurrencies”. In addition, he said that the new market would have “transformation potential ahead”.

After almost two months of its inauguration in the digital currency market, Mercado Livre announced the purchase of a part of 2TM, the controlling holding company of the Brazilian cryptocurrency exchange Mercado Bitcoin.

In addition, the institution also has a stake in Paxos, which provides infrastructure for digital assets, including for Mercado Pago, and issues the USDP stablecoin.


In the second quarter of 2022, Mercado Pago saw a 56% growth in net revenue, reaching US$ 2.6 billion. The operating result was US$ 250 million, with growth of 9%.

The company closed the end of the quarter with a 26% increase in sales volume, with US$ 8.6 billion. It also presented an 84% growth in the volume of processed payments, reaching US$ 30.2 billion. Finally, the institution obtained 3.5 million new users in the period.

Anyway, want to stay on top of everything that happens in the world of finance?

Follow us on the YouTube channel and on our social networks such as Facebook, twitter, Instagram, and Twitch. Thus, you will follow everything about digital banks, credit cards, loans, fintechs and matters related to the world of finance.

About Admin

Check Also

Galaxy S20 FE 5G receives Android 13 in Brazil – Tecnoblog

Samsung starts shipping Android 13 with One UI 5 for Galaxy S20 FE …

Leave a Reply

Your email address will not be published. Required fields are marked *