Brazil fintech gets approval to become a Bitcoin treasury company

1 month ago

Brazilian fintech steadfast Méliuz’s shareholders officially approved a Bitcoin treasury connection connected May 15, with the steadfast besides announcing it acquired different 274.5 Bitcoin.

Brazil fintech gets support to go a Bitcoin treasury company

Méliuz’s enforcement president says his fintech steadfast has go Brazil’s archetypal publicly-traded Bitcoin treasury institution pursuing shareholder approval, with the steadfast besides announcing it bought $28.4 cardinal worthy of Bitcoin to adhd to its existing stack.

“Historic day! Our shareholders person approved, by a wide majority, the translation of Méliuz into the archetypal Bitcoin Treasury Company listed successful Brazil,” Israel Salmen posted to X connected May 15.

Salmen said the steadfast snapped up 274.52 Bitcoin (BTC) for an mean acquisition terms of $103,604, achieving a BTC output of 600%.

Méliuz present holds 320.3 Bitcoin, worthy a small implicit $33 million, with the latest acquisition adding to the Brazilian fintech firm’s first acquisition of 45.73 Bitcoin connected March 6.

In a May 15 statement, Méliuz said it would accumulate Bitcoin successful an “accretive way” for shareholders utilizing a scope of fiscal instruments.

“Rather than conscionable allocating portion of its currency to Bitcoin arsenic a hedge against ostentation oregon currency devaluation, the Company has repositioned its intent to enactment by maximizing the magnitude of Bitcoin per share.”

According to Salmen, Méliuz is the first Bitcoin treasury company successful Latin America due to the fact that the planned Bitcoin investments are present portion of its “business strategy.”

BitcoinTreasuries.NET data shows that e-commerce level MercadoLibre holds more, with implicit 570 Bitcoin, worthy $59.2 million, aft its latest acquisition of 157.7 Bitcoin connected March 31.

Méliuz has been 1 of Brazil’s top-performing stocks of late

Méliuz (CASH3.SA) has been 1 of the best-performing stocks connected the Brasil Bolsa Balcão since the steadfast announced its archetypal Bitcoin acquisition connected March 6, expanding much than 117% since then, according to Google Finance data.

Méliuz’s marketplace headdress present sits astatine 727.9 Brazilian real, oregon much than $128 million.

The fintech steadfast is well-known for its cashback program and serves implicit 30 cardinal users crossed Brazil.