For almost four years, when someone asked which Latin American company held Bitcoin on its balance sheet, the answer was just one: Mercado Libre. The e-commerce giant bought BTC in May 2021 and, for a long time, was practically the only corporate name in the region with declared exposure. That picture is now obsolete. Between 2025 and 2026, Latin America went from having one anecdotal Bitcoin treasury to an ecosystem of vehicles listed on five different exchanges, led — and this is the big surprise — not by Mexico or Argentina, but by Brazil.
This guide walks through the full map of Latin American Bitcoin treasuries as of mid-2026: who holds how much, where each trades and what business model it follows. The preview conclusion: the question "is Mercado Libre the only one?" no longer makes sense; today the region has its own Strategy, and it's in São Paulo.
The map at a glance
A quick view before the detail of each company. Holdings figures are approximate and move with each new purchase; they reflect the best public information available as of mid-2026, ordered from largest to smallest by Bitcoin held.
OranjeBTC — Brazil, B3 (ticker OBTC3; ADR ORNJY). About 3,762 BTC. Strategy-style pure-play and the region's largest treasury. Méliuz — Brazil, B3 (CASH3). Close to 596 BTC. A cashback fintech that added a Bitcoin treasury. Mercado Libre — Argentine origin, regional reach, NASDAQ (MELI). About 570 BTC. E-commerce giant with BTC on the balance sheet since 2021. Grupo Murano — Mexico, NASDAQ (MRNO). About 21 BTC, with a five-year accumulation plan. Arcadia₿ — Mexico, Mexican Stock Exchange (BMV). About 20 BTC. Bitcoin brokerage and the first listed treasury on the Mexican exchange. Globant — Argentina, NYSE (GLOB). A little over a dozen BTC on the balance sheet. Zonda Bitcoin Capital — Argentina, BYMA over the former HULI (target ticker ZOND). Holding in transition. Strategy-style pure-play.
To this add a player that isn't listed but carries weight: the exchange Ripio, which revealed in late 2025 a crypto treasury (Bitcoin and Ethereum) worth more than $100 million, the region's second-largest among private entities.
Brazil takes the lead
The single most important data point of this whole map is that the largest corporate Bitcoin holder in Latin America is now Brazilian, by a wide margin. Brazil has the deepest capital market in the region — the B3 exchange is one of the largest in the world — and that has allowed real-scale pure-play vehicles to appear.
### OranjeBTC — the Latin American Strategy
OranjeBTC is, as of mid-2026, Latin America's largest Bitcoin treasury. It holds 3,762 BTC, acquired at an aggregate cost near $395 million, at an average purchase price of around $105,000 per bitcoin. It trades under ticker OBTC3 on Brazil's B3 (São Paulo) and as ADR ORNJY internationally. The company reached the market via a reverse merger with the education firm Intergraus, and presents itself as Brazil's first public debut of a firm whose entire business model revolves around accumulating Bitcoin. It is, in essence, the Latin American equivalent of Strategy: a listed pure-play vehicle designed to give shareholders leveraged Bitcoin exposure via mNAV and BTC-per-share growth. The company reports a cumulative BTC Yield around 2.20% for 2026.
### Méliuz — the first Brazilian fintech to take the step
Méliuz (B3: CASH3) has a different profile. It's a Brazilian cashback fintech that, in March 2025, became the first listed company in Brazil to formally adopt the Bitcoin treasury model. It started with an initial purchase of about 45.7 BTC and kept adding — including an acquisition of 275.43 BTC for about $28.6 million — to reach close to 596 BTC. With that figure, Méliuz surpassed Mercado Libre as the region's largest corporate Bitcoin holder among non-pure-plays, until OranjeBTC left it far behind. The Méliuz case matters because it set the pattern others later followed: a company with its own operating business (cashback) that decides to convert part of its cash into Bitcoin to preserve value against inflation and attract a new investor profile.
Mexico: Arcadia₿ and Grupo Murano
Mexico was the first Spanish-speaking geography to add listed Bitcoin treasuries, and we cover it in detail in the guide to how to buy Bitcoin in Mexico. Two names. Arcadia₿ (formerly KapitalEX) debuted in August 2025 as the first Mexican company listed directly on the Mexican Stock Exchange (BMV) with Bitcoin treasury at its core. It holds about 20 BTC (≈$2 million) and its business combines Bitcoin brokerage, collateralised loans, a debit card and payment tools for merchants. The holding is modest in absolute terms, but the strategic value of being the first on a local exchange is undeniable. Grupo Murano (NASDAQ: MRNO) is the most ambitious and most volatile case. It's a Mexican hotel and real-estate group with more than $2 billion in assets, which holds about 21 BTC but has announced a plan to invest up to $10 billion in Bitcoin over five years — starting with a first $1 billion tranche — aiming to allocate 70–80% of the group's assets to BTC. If executed, it would place Murano among the world's largest Bitcoin treasuries; the execution risk is proportional to the ambition.
Argentina: Zonda, Mercado Libre and Globant
Argentina provides the highest historical density of companies with BTC on the balance sheet, as we detail in the guide to how to buy Bitcoin in Argentina. Three names. Zonda Bitcoin Capital (BYMA, target ticker ZOND) is Argentina's first pure Bitcoin treasury. It was formed in December 2025 after buying the majority stake of Hulytego S.A.I.C. (HULI), a historic Buenos Aires-listed company, repurposed into a Strategy-style accumulation vehicle led by Leonardo Rubinstein. As of this guide, it's still completing its formal transition while the share trades as HULI. Mercado Libre (NASDAQ: MELI), the e-commerce giant, was for years the face of Latin American corporate Bitcoin. It entered in May 2021 with 412.7 BTC and holds about 570 BTC today. It's no longer the region's largest — Brazil overtook it — but it remains the pioneer and the best known internationally. Globant (NYSE: GLOB), the Argentine-origin tech consultancy, declared a $7.8 million Bitcoin purchase in Q1 2021 and keeps a little over a dozen BTC. A small, stable position, not an active accumulation strategy, but part of the map.
What this map means
Three conclusions. First: the region now has its own Strategy. The arrival of OranjeBTC, a pure-play with nearly 4,000 BTC trading on a Latin American exchange, closes the gap that was for years the regional map's main shortcoming. Latin America no longer depends on buying MSTR abroad to access the leveraged-treasury model: it has its own, in reais and on B3. Second: the centre of gravity is Brazil. By capital-market depth, number of vehicles and BTC accumulated, Brazil clearly leads. Mexico and Argentina provide the pioneer cases on their local exchanges (Arcadia₿ on BMV, Zonda on BYMA), but the scale is in São Paulo. The Andean layer — Chile, Colombia, Peru — still has no locally listed treasury, as we analyse in the Andean regulatory map. Third: Mercado Libre is no longer the only one, not by a long shot. The question in this guide's title made sense in 2023. In 2026, Latin American companies with declared Bitcoin number in the dozens if minor positions are included, and the relevant listed ones add up to several thousand BTC, with OranjeBTC concentrating most.
For SatsIntel, closing this Latin American editorial block completes the picture: from retail (Mexico, Argentina, the Andes) to the listed institutional layer (this treasury map). You can follow the full evolution in the complete list of Bitcoin treasuries. A matter of time.
