Submitted papers with the US Securities and Exchange Commission reportedly showed that top-tier IT conglomerate Globant finalized the purchase of $500,000 worth of BTC, becoming the latest major company to join Bitcoin. 

Specifically, the company reportedly declared its crypto asset acquisitions in the first quarter of 2021, via a statement submitted to the SEC. Its investments and expenses are in the listings of “intangible assets”, together with licenses, customer relationships, customer contracts, and non-compete agreements the firm is owning at the moment. 

Globant reportedly claimed that the declaration decision for Bitcoin to be an intangible asset was fueled by its “lack of physical form and there is no limit to its useful life”, and gains generated by digital assets will not be considered profit until after they are sold. 

Regardless of Bitcoin appearing on its balance sheet, the company has reportedly not disclosed any details in terms of its cost-basis paid for its BTC sum. Nonetheless, with the acquisitions coming in in the first 3 months, any BTC buys made from the second week of February onward would suffer from a loss. 

Despite several publicly traded entities having reportedly finalized the acquisition of BTC throughout the past months, the details of it are still not in the light for many. Insights from Bitcoin Treasuries showed that six publicly listed companies are now owing money to the bank for their Bitcoin acquisition, because virtual coin has settled back to its early-February price levels.

Nominally, an online gaming entity from Japan Nexon reportedly revealed details of its $100 million BTC acquisition in April, with the sum now dropped to $67 million in price value. 

Multinational investment corporation BlackRock reportedly seems to have suffered from a 33% value deduction of its $360,000 BTC purchase. However, the acquisition was finalized in March, as profits from a futures trade it logged into January, meaning BlockRock did not spend any fiat to accumulate its crypto.