THELOGICALINDIAN - Globant one of the big four tech firms in Argentina has agilely fabricated its aboriginal attack into the apple of cryptocurrency advance according to its latest filing to the SEC The close bought bitcoin during the aboriginal three months of this year and is now allotment of a baddest cardinal of LATAM unicorns that accept taken the access of putting some of its amount in crypto assets
Globant Invests in Cryptocurrency
Globant, a software tech behemothic unicorn based in Argentina, has abutting a baddest accumulation of companies that are currently invested in cryptocurrencies, according to its latest filing to the SEC. The company, founded in 2003, appear the acquirement of $500,000 in bitcoin (BTC) during the aboriginal division of 2021 (Q1). A baby sum for a aggregation with a appraisal of added than $6.5 billion and listed on the New York Stock Exchange (NYSE).
Globant listed the bitcoin aggregation as allotment of its abstract assets, adage bitcoin is:
The filing states Globant purchased the above account of bitcoin, but doesn’t specify the cardinal of bitcoins that were purchased or the amount the aggregation paid for them. However, the filing does analyze that Globant will admit crime losses if the amount of the assets avalanche abaft the amount of acquisition, and assets will not be recorded until the auction of the asset.
While some USA-based companies like Microstrategy and Tesla, and asset managers like Grayscale accept been quick to jump into the cryptocurrency bandwagon, its LATAM-based counterparts accept had a added apathetic access to this new asset class. This ability be accompanying to how bound these companies embrace addition and how they administer the accident vs befalling antithesis due to their own business models.
Argentinian Companies Have Started to Embrace Crypto
However, Globant is not the aboriginal Argentinian aggregation that has fabricated appropriate with cryptocurrency. Mercadolibre, an e-tailer aggregation that has a big brand in LATAM, bought $7.8 actor in bitcoin this month, declaring it as allotment of their treasury strategy, potentially hinting at added bitcoin purchases bottomward the road. Mercadolibre additionally launched a absolute acreage belvedere that alone accepts bitcoin as payment.
More LATAM-based companies, and accurately Argentinian ones, are accepted to embrace crypto as allotment of their business action soon, due to the abasement of the civic bill and the difficulties that they face in accepting dollars.
What do you anticipate of Globant’s acquirement of cryptocurrencies? Tell us in the comments area below.
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