Brazilian fintech firm Méliuz has acquired $28.4 million worth of Bitcoin, becoming the first Brazilian listed company to add BTC to its treasury reserve.
This groundbreaking move, announced by the chairman of the company, Israel Salmen, marks a significant milestone for Brazil’s financial landscape. Moreover, it underscores the rising acceptance of cryptocurrency among publicly traded companies.
Notably, the acquisition follows an overwhelming approval by Méliuz’s shareholders to integrate Bitcoin into the firm’s treasury. This strong backing reflects confidence in the company’s forward-thinking strategy.
Méliuz now holds 274.52 BTC
Specifically, Méliuz purchased 274.52 BTC at an average price of $103,604, boosting its total holdings to 320.2 BTC, now valued at over $33 million.
Chairman Israel Salmen hailed the move as a “historic day” on social media, emphasizing its importance.
Unlike traditional approaches, Méliuz aims to maximize Bitcoin per share, rather than merely using it as an inflation hedge.
Méliuz’s Bitcoin acquisition move is inspired by global trends
Méliuz’s decision could spark a ripple effect across Brazil’s corporate sector. As the first listed company in the nation to adopt BTC as a treasury asset, it paves the way for others to explore similar paths.
Globally, over 70 companies have already incorporated Bitcoin into their reserves, signaling a broader trend. In Brazil, where fintech innovation thrives, this move might accelerate cryptocurrency’s mainstream adoption.
Furthermore, it positions Méliuz as a leader, potentially influencing how firms manage assets amid economic uncertainty. Ultimately, this could herald a new chapter for Brazilian finance.
In particular, Méliuz’s move draws heavily from global pioneers, particularly Michael Saylor’s Strategy (formerly MicroStrategy). Saylor, a prominent Bitcoin advocate, has guided Strategy to amass over 568,840 BTC, valued at roughly $59 billion.
Earlier this month, Méliuz’s chairman Salmen met with Saylor to discuss Méliuz’s plans. Additionally, Méliuz joined Bitcoin For Corporations as an executive member, aligning with a worldwide movement.
Other companies like Japan’s Metaplanet, dubbed Asia’s MicroStrategy, have also embraced Bitcoin, holding 6,796 BTC with plans to reach 10,000 by 2025. The Bahrain-based AlAbraaj Restaurants Group also recently integrated BTC in its treasury, making it the first company in Bahrain to do so.
