Largest Latin American e-commerce Platform Accepts Bitcoin Now For Real-Estate

Mercado Libre, the largest Latin American e-commerce platform would now accept Bitcoin payment for buying and selling properties and real estate located in Argentina. The real-estate section on the website now lists at least 75 properties managed by 7 agencies that would accept Bitcoin payment from today.

Juan Manuel Carretero, Commercial Manager of Vehicles, Real Estate, and Free Market Services said that the growing popularity of Bitcoin in the Argentinian real-estate sector was the key reason behind the decision. He explained,

“We are always attentive to the changes that occur in the market. Bitcoin offers multiple advantages for real estate operations, both for the buyer and for the seller. Today we launch the crypto section within Mercado Libre Inmuebles and, in a few hours, there are already 75 properties available. We expect many more as the days go by because far from being a fashion, we see that it is a trend that will consolidate over time.”

The 20-year old e-commerce platform suggested that they held a remote conference on blockchain and cryptocurrencies that were attended by over 300 real estate companies and the interest shown by these firms indicated that more firms might join in the Bitcoin game.

Bitcoin Growing Popularity as a Form of Payment Along With Store of Value

Bitcoin this bull season has spurred into mainstream adoption as different companies use it for different purposes. The likes of MicroStrategy and Tesla are using it as a treasury reserve while the likes of AXA insurance, Tesla, and now the Latin American e-commerce giant has started accepting Bitcoin as a form of payment.

The price of the top cryptocurrency is currently in a consolidation phase post last week’s correction, but that hasn’t stopped institutions from adding more to their company’s balance sheet. The most recent being the video game maker Nexon who bought $100 million worth of Bitcoin a few days back.