Brazil fintech gets approval to become a Bitcoin treasury company
Méliuz has become Brazil's first publicly-traded Bitcoin treasury company after shareholder approval. The firm purchased $28.4 million worth of Bitcoin, acquiring 274.52 BTC at an average price of $103,604, resulting in a BTC yield of 600%. Méliuz now holds a total of 320.3 BTC, valued at over $33 million, following an earlier purchase of 45.73 BTC on March 6. The company aims to accumulate Bitcoin strategically for shareholders, focusing on maximizing Bitcoin per share rather than merely using it as a hedge against inflation. Méliuz is noted as the first Bitcoin treasury company in Latin America, integrating Bitcoin investments into its business strategy. The company's stock has increased by over 117% since the initial Bitcoin purchase, with a market cap of 727.9 million Brazilian real (over $128 million). Méliuz is recognized for its cashback program and serves over 30 million users in Brazil.
