While cryptocurrency adoption is still gaining momentum in U.S. corporate reserves, many of Latin America’s largest companies have already integrated Bitcoin into their financial strategies. These firms are leveraging digital assets not only to diversify holdings but also to counteract inflation, a persistent challenge in the region. Inspired by companies like Strategy (formerly MicroStrategy) and countries like El Salvador—both of which have built substantial Bitcoin reserves—several LATAM corporations are now embracing cryptocurrency for long-term stability.
In Argentina, three major firms, including Mercado Libre—the region’s largest publicly traded company—have accumulated a combined total of 1,300 BTC, according to BitcoinTreasuries.NET. The country’s pro-Bitcoin policies have gained international attention since President Javier Milei assumed office over a year ago, enacting deregulation measures and promoting cryptocurrency adoption. However, corporate interest in Bitcoin predates his administration.
Bitfarms, a Bitcoin mining company founded by Argentine entrepreneurs and headquartered in Canada, is currently the largest corporate Bitcoin holder in the region. According to data from BitBo, Bitfarms, established in 2017, holds 870 BTC. In 2024, the company’s mining operations—spanning Argentina, Paraguay, Canada, and the United States—produced an average of 250 BTC per month.
Mercado Libre: Latin America’s Crypto Trailblazer
Often referred to as the “Amazon of Latin America” for its dominance in the regional e-commerce sector, Mercado Libre is one of the largest corporate Bitcoin holders in the region. The company, valued at approximately $100 billion, began its crypto journey in 2021 with an initial investment of less than $10 million in Bitcoin and Ethereum. Today, its holdings have grown to 412 BTC and 3,040 ETH, now valued at around $50 million. Mercado Libre’s founder, Marcos Galperín, has been a vocal supporter of Bitcoin, once stating, “I believe Bitcoin is a better store of value than gold.” Meanwhile, other Argentine companies have also joined the crypto space, including Buenos Aires-based software firm Globant, which has invested in Bitcoin, albeit at a smaller scale with holdings just over a dozen BTC.
Economist and crypto analyst Natalia Motyl emphasizes that corporate interest in Bitcoin is more than a short-term trend. “This shift began in 2021, and since then, an increasing number of companies have recognized the advantages of cryptocurrency as a store of value and an investment vehicle,” she explained. For businesses in Argentina, where inflation remains a major economic concern, Bitcoin offers a potential hedge against currency instability. While companies like Mercado Libre have expanded their crypto investments, their holdings are still relatively small compared to global players. For instance, Strategy holds nearly half a million BTC. Nevertheless, integrating Bitcoin is about more than just financial gains—it also positions these companies as forward-thinking leaders in the evolving digital economy.
Latin American Companies Expand Crypto Services
Beyond investing in Bitcoin, major Latin American fintech companies are integrating cryptocurrency into their business models as digital asset adoption rises. With millions of users already engaged in fintech services, companies see crypto as an opportunity to expand their financial offerings.
Mercado Libre, with over 50 million fintech users, has been steadily increasing its crypto presence. The company recently introduced its own stablecoin, the “Meli dollar,” in Brazil, its largest market. Prior to that, it launched a proprietary token as part of a loyalty program designed to boost user engagement on its marketplace platform. One of the region’s biggest financial players in the crypto space, beyond dedicated exchanges, is Nubank. The publicly traded Brazilian bank, which is partially owned by Warren Buffett’s Berkshire Hathaway, serves over 100 million users across Brazil, Colombia, and Mexico. As cryptocurrency adoption continues to expand, Nubank has been steadily enhancing its digital asset services to meet growing demand.
After launching crypto trading in 2022 to address the increasing interest in digital assets, Nubank has continued developing its offerings. In December, it introduced support for direct swaps between BTC, ETH, SOL, UNI, and USDC. The bank also reported that up to 30% of its users currently hold USDC in their portfolios and recently improved its rewards program for stablecoin investments.
“Crypto swaps are becoming more popular as users incorporate digital assets into their financial strategies,” said Thomaz Fortes, Nubank’s executive director of cryptocurrencies and digital assets. “This initial rollout with USDC and the four most popular cryptos allows users to secure potential profits from price movements without leaving the market, all while benefiting from lower fees.” As Latin America continues to lead in crypto adoption, fintech giants and corporations alike are seizing opportunities in the digital asset space. Whether through direct investments in Bitcoin, launching stablecoins, or expanding crypto services, these companies are positioning themselves at the forefront of the financial revolution.
Conclusion
The adoption of Bitcoin by Latin American corporations is gaining momentum, driven by inflation concerns, financial diversification strategies, and the region’s high demand for digital assets. Companies like Mercado Libre, Bitfarms, and Nubank are integrating cryptocurrencies into their business models, not only for treasury investments but also as part of their financial services offerings. While these firms are still far from being major Bitcoin holders, their increasing involvement in the crypto space signals a growing trend that could shape the region’s financial landscape in the years to come.
FAQs
Why are Latin American corporations investing in Bitcoin?
Many firms view Bitcoin as a hedge against inflation and a way to diversify their financial holdings, particularly in regions with weak currencies.
Which companies in Latin America hold the most Bitcoin?
Bitfarms holds the largest amount of Bitcoin in the region, followed by Mercado Libre and Globant.
How is Mercado Libre integrating crypto into its business?
The company has invested in Bitcoin and Ethereum, launched its own stablecoin (Meli dollar), and introduced crypto-based loyalty programs.
I am Toby Rothschild, Co-Founder of Spearmint and author at Coinography, and a strategist focused on advancing Web3 innovation, digital ecosystems, and the future of decentralized technology. I combine product thinking, creative leadership, and deep interest in emerging trends to help shape how individuals and organizations interact with the next generation of digital systems.
My work centers on understanding how blockchain, AI, and digital identity are reshaping global industries. At Spearmint, I help lead the direction of initiatives that bring clarity, structure, and meaningful user experiences to complex technological environments. I focus on bridging vision with execution, ensuring that innovation remains practical, scalable, and aligned with long-term growth.
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