America’s second largest company, Mercado Libre, announced that it plans to list 75 properties for sale. To buy one of these properties, the buyer must pay in bitcoins without fail. In addition, the South American giant also hosted a webinar for nearly 300 agencies to provide them with more information on cryptocurrencies.
In fact, company boss Marcos Gallering said this year that Bitcoin is a much better store of value than gold. However, he does not believe digital currencies will replace fiat currencies due to “the high energy cost required to process his translations. “
Additionally, Coin Telegraph informs us that the group has a digital payment system called Mercado Pago.
Simple Marketing or Real Implementation of Cryptocurrencies?
This question comes up quite often when a business decides to switch to or accept cryptocurrency. When Tesla settled at $ 1.5 billion in Bitcoin, many commentators raised the marketing acceptance conundrum. More and more businesses are accepting cryptocurrency payments. Currently, there are prepaid cryptocurrency cards such as Bitpay or Crypto.com that allow cryptocurrency holders to convert their tokens to fiat currency for online transactions.
For Mercado Libre, cryptocurrencies represent “a paradise for innovative values“. Juan Manuel Carretero, Commercial Director for Autos, Real Estate and Free Market Services at Mercado Libre, touted the values of Bitcoin.
We are always attentive to changes in the market. Bitcoin offers many benefits to real estate transactions for both the buyer and seller. Today we are launching a crypto section at Mercado Libre Inmuebles, and in a few hours, 75 objects are already available.
Is the context favorable?
The Latin American area, like the rest of the world, has been hit hard by the health crisis. Argentina, where the headquarters of the Mercado Libre is located, is experiencing one of the worst moments in its history. Indeed, the country’s gross domestic product has declined 7% over the year, and double-digit inflation has stood at 42.6% over the past twelve months. Worse, buying dollars is rationed in the economy.
Suddenly, American households began to think a lot about using cryptocurrency as an alternative to the $ 200 dollar censorship imposed by the Argentine authorities. Argentina is said to have at least 2 million active cryptocurrency users.
Argentina is not the only country in Latin America interested in cryptocurrency. Gestion Pe, a Peruvian media outlet, informs us that: “Peru leads South America with a higher percentage of cryptocurrency users (16%), according to the latest Statista Global Consumer Survey released in March. “
Venezuela is also a member of the digital currency lovers club. What’s more, the Venezuelan government has already issued the Petro digital currency, backed by the country’s oil and mineral reserves.