"Brazilian Fintech Makes History as Bitcoin Treasury Company"

Brazil Fintech Becomes Bitcoin Treasury Company

The executive chairman of Méliuz has announced that the fintech firm has secured approval to become Brazil’s first publicly-traded Bitcoin treasury company. Following shareholder approval, the company made a significant move by purchasing $28.4 million worth of Bitcoin to add to its existing stack. Israel Salmen shared the news on X on May 15, calling it a historic day for Méliuz.

In this development, Méliuz acquired 274.52 Bitcoin (BTC) at an average purchase price of $103,604, resulting in a remarkable BTC yield of 600%. With this latest purchase, the company now holds a total of 320.3 Bitcoin, valued at over $33 million. This acquisition comes on the heels of Méliuz's initial purchase of 45.73 Bitcoin on March 6.

According to a statement released on May 15, Méliuz plans to continue accumulating Bitcoin for its shareholders through various financial instruments in a manner that is beneficial to all parties involved.

“Rather than just allocating part of its cash to Bitcoin as a hedge against inflation or currency devaluation, the Company has repositioned its purpose to act by maximizing the amount of Bitcoin per share.”

Salmen emphasized that Méliuz is setting itself apart as the first Bitcoin treasury company in Latin America, with Bitcoin investments now forming a core part of its business strategy. Data from BitcoinTreasuries.NET shows that e-commerce platform MercadoLibre holds a larger quantity of Bitcoin, with over 570 Bitcoin valued at $59.2 million following its recent purchase of 157.7 Bitcoin on March 31.

Méliuz's Stock Performance

Sinc the announcement of its first Bitcoin purchase on March 6, Méliuz (CASH3.SA) has emerged as one of the best-performing stocks on the Brasil Bolsa Balcão, witnessing a surge of more than 117% in Google Finance data. The market capitalization of Méliuz currently stands at 727.9 Brazilian real, equivalent to over $128 million.

Known for its cashback program, Méliuz caters to a vast user base of over 30 million individuals across Brazil. The fintech firm's success and strategic investment in Bitcoin have positioned it as a key player in the evolving landscape of digital finance.