Will MercadoLibre's Crypto Bet Pay Off?

The cryptocurrency market has been crashing after its massive run-up last year. Similar to the stock market, investor sentiment changed, and investors started to prefer stable, reliable companies over speculative investments.

Crypto is arguably the most speculative investment you could make right now, so all cryptocurrencies got crushed. Even the most notable coins like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are down over 50% year-to-date.

Now, MercadoLibre (NASDAQ: MELI) -- one of Latin America's leading e-commerce and fintech companies -- has built its own kind of cryptocurrency. With crypto in the dumps, could MercadoLibre's speculative bet pay off?

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Source Fool.com