Brazilian Fintech Firm Méliuz Acquires Bitcoin Worth $28.4M
Méliuz, a Brazil-based fintech firm, has become the first Bitcoin treasury company in the country, following the acquisition of $28.4 million worth of Bitcoin.
Israel Salmen, chairman of Méliuz, announced the acquisition on X, Friday, calling it a “historic day!”
“Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil.”
The company grabbed 274.52 Bitcoin at an average price of $103,604, achieving a BTC yield of 600%.
“We now hodl 320.2 BTC at an average price of US$ 101,703.80,” Salmen wrote on X. The total worth of Méliuz’s Bitcoin stash is above $33 million, and the world’s largest crypto is trading at $104,012 at press time, per CoinMarketCap data.
Méliuz Plans to Buy Bitcoin in an ‘Accretive Way’
In a separate press release, the company said that it first made a Bitcoin purchase in March this year. Additionally, Méliuz plans to “accumulate Bitcoin in an accretive way for shareholders.”
“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.”
The company also recently joined Bitcoin For Corporations as an executive member.
“They’ve started integrating Bitcoin into their treasury, positioning themselves for long-term value in a rapidly evolving financial world,” wrote Bitcoin For Corporations, on Wednesday.
Inspired by Saylor’s Bitcoin Strategy Approach
Israel Salmen had met Strategy’s Michael Saylor early this month to celebrate Méliuz’s Bitcoin strategy journey. “Thank you for paving the way,” he wrote on X, posting pictures with Saylor.
Formerly MicroStrategy, the Saylor-led investment giant currently owns 568,840 BTC, valued at around $59 billion. Saylor and his firm have been inspiring several companies and tech firms in the Bitcoin accumulation race.
Strategy analyst Jeff Walton said that the company holds “more of the best asset,” appreciating its unprecedented exposure to Bitcoin.
Over 70 companies have so far adopted some form of BTC treasury. Last month, crypto payments firm Strike founder Jack Mallers announced a new venture, Twenty One, backed by Tether and SoftBank Group. The company is expected to hold over 42,000 Bitcoin at launch, making it the third-largest BTC treasury, after Strategy and Mara Holdings.
Metaplanet, often referred to as Asia’s Strategy, has also been in the pursuit of a similar Bitcoin accumulation model.
The company bought 1,241 BTC this week for $126 million, adding its total stash to 6,796 BTC valued at over $706 million. The firm aims to grow its holdings to 10,000 BTC by the end of 2025, following Saylor’s footsteps.
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