IT giant Globant announced the purchase of BTC for $500,000
A software developer, IT company Globant, has invested 500,000 in Bitcoins. This became known from documents filed by the firm with the US SEC.
Globant, an $8.7 billion listed company on the New York Stock Exchange, was founded in 2003 and operates in Latin America. Despite being headquartered in Buenos Aires, they also have offices in Britain and the United States.
The firm disclosed data to the US regulator on the acquisition of cryptocurrency assets in the first quarter of this year, becoming the last major player on the list of institutions that have already invested in the main cryptocurrency on the market. However, unlike MicroStrategy, Globant chose not to disclose at what price it purchased Bitcoins. But if we take into account the current exchange rate and the fact that the acquisition was carried out in the first quarter of 2021, then purchases of any amount of BTC from mid-February became unprofitable for the company.
In an SEC report, Globant labeled BTC as “intangible assets with an unlimited life”, clarifying that the main cryptocurrency on the market “has no physical form and is not subject to amortization, but can be tested for depreciation.”