Brazilian Firm Méliuz Becomes First to Include BTC in Treasury - Coinspeaker

Key Notes

• Méliuz became the first Brazilian company to hold Bitcoin as a treasury asset.
• The company’s total Bitcoin investment is valued at over $33 million.
• Méliuz’s stock more than doubled following the announcement.

Brazilian fintech firm Méliuz has announced a $28.4 million Bitcoin purchase, making it the first publicly traded company in Brazil to hold Bitcoin as a treasury asset. The decision received strong shareholder backing and reflects the growing institutional demand for cryptocurrencies in the country.

The company acquired 274.52 BTC at an average price of $103,604, building on its previous March 6 shopping of 45.73 BTC. With this, Méliuz’s total Bitcoin holdings now stand at 320.2 BTC, worth over $33 million at current market prices.

There has been a major spike in the number of firms investing in the world’s largest cryptocurrency. Companies like Metaplanet, Méliuz, and Republic have joined the ranks of big BTC investors like Strategy and Tesla.

Related article: Bitcoin to $1M “Sometime Between Now and 2028,” Says Arthur HayesMéliuz stated that its primary goal is to accumulate Bitcoin in a way that benefits shareholders. The company’s release reads:

“The company’s main mission is to accumulate Bitcoin in an accretive way for shareholders, using its cash generation and corporate and capital market structures to increase exposure to the asset over time.”

Bitcoin was trading around $104,000 at the time of the announcement, nearing its all-time high of $109,000. The news also resulted in a sharp rally in Méliuz’s own stock, which has now more than doubled in value.

A milestone in brazil’s crypto ecosystem

The move has been praised by Bitcoin proponents as a bold step in a region that has shown increasing interest in cryptocurrencies. Notably, Brazil has ranked among the top 10 countries for crypto activity.

According to a Statista report, the country was the seventh-largest in terms of crypto transactions in both centralized and decentralized platforms in 2023. P2P usage also ranked high globally, placing Brazil at 15th among 146 countries.

Meanwhile, the government is working on regulating this fast-growing sector. The Brazilian Senate recently approved new income-tax legislation that could impose up to a 15% tax on crypto earnings from international exchanges, pending presidential approval.

nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.