Bitcoin Treasures and the End of Argentine Crypto Wallets: Latin America’s Wild Week

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Ah, welcome to Latam Insights, the only place where you’ll get your crypto news served hot and spicy. This week, Meliuz is making waves by adding 274 BTC to its treasure chest, Argentina’s crypto wallets might soon be extinct (don’t forget to grab your popcorn), and Ripple is trying to play hero for Colombian farmers. Let’s dive into the madness, shall we?

Meliuz Buys 274 BTC, Because Who Needs Dollars When You’ve Got Bitcoin?

Hold onto your hats, folks. Latin America is officially entering the Bitcoin era, following in the footsteps of Michael Saylor’s crazy-but-effective strategy in the U.S. Enter Meliuz, a Brazilian cashback company that’s now leading the charge in Brazil and Latam by securing itself a hefty Bitcoin treasure. Forget dollars, the future is BTC!

Israel Salmen, CEO of Meliuz, proudly declared that the company jumped on the Bitcoin treasury train after its shareholders gave it a thumbs-up “by a wide majority.” Because, you know, they know a good investment when they see it.

Salmen tweeted:

“And today, we took another step forward: Acquired 274.52 BTC for US$ 28.4M. Average price: US$ 103,604, achieving a BTC Yield of 600%.”

So, what’s the takeaway? Meliuz isn’t just playing with Monopoly money here. With their shiny new 274 BTC, their total stash now sits at 320.2 BTC, acquired at an average price of $101,703.80. It’s the start of a new era for this Brazilian business. Just wait until they start buying up entire countries with crypto.

The Argentine Crypto Wallet Apocalypse: Should We Send Flowers?

Now, onto something less fun: Argentina. If you thought things couldn’t get worse for crypto, think again. Argentina’s crypto ecosystem is teetering on the brink of extinction, thanks to a lovely little tax from 2001. The “debit and credit tax” slaps a 1.2% duty on each cryptocurrency transaction, and guess what? Local crypto providers are losing in the battle against traditional financial institutions and international crypto giants.

In 2021, the industry asked for mercy, and they got it—well, kind of. The tax was reduced to 0.075%, since, you know, crypto and the internet have a “special relationship.” But things are about to get real messy. ARCA, the Argentine tax agency, might decide to apply the full 1.2% tax again, leaving these crypto providers on the verge of collapse.

Oh, and let’s not forget the delightful retroactive tax idea. That’s right, if the tax gets slapped on backdated, local crypto operations, many will be forced to shut down. We’re talking about a crypto mass extinction event here. RIP, wallets. 😬

Ripple to the Rescue: Colombian Farmers Get Some Blockchain Love

And in today’s “well, at least something good is happening” section, Ripple is stepping up its game to help out Colombian farmers. On May 15, they announced their second pilot this year with Mercy Corps Ventures, working alongside WËIA, a traceability tech provider. Their goal? To use blockchain to give Colombian farmers a boost in income and financial inclusion. No, really—Ripple’s making farmers into tech-savvy, crypto-loving heroes. Who knew?

“In collaboration with WËIA, this pilot is designed to increase financial inclusion and income for smallholder farmers in Colombia through blockchain-powered traceability on the XRP Ledger (XRPL).”

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2025-05-19 00:58