Méliuz, a listed Brazilian company, has announced the acquisition of Bitcoin (BTC) equivalent to 10% of his cash interests, local media reported on Amarch 6.
The company bought 45.72 BTC for $ 4.1 million for an average price of $ 90.296 per BTC. The purchase makes Méliuz the first listed Brazilian company that holds an important Bitcoin position as part of the Treasury strategy.
Israel Salmen, chairman and the largest shareholder of Méliuz, said that the company sees Bitcoin as a more effective alternative to capital allocation.
He said:
“We see Bitcoin as a long -term storage of value. We do not intend to sell the BTC that we have bought. We are not traders. We want to build the long -term value. “
Salmen acknowledged that increasing exposure to Bitcoin introduces risks, but emphasized that Méliuz is consistently prepared to take calculated risks since its foundation in 2011.
Méliuz chairman also compared Bitcoin with traditional actual strategies, with the argument that retaining excess capital in instruments with fixed-income incomes seems careful, but results in considerable alternative costs.
He added:
“Many see Bitcoin as a risky assets. But do we really understand the concept of risk? What is more risky – keeping cash reserves that are subject to devaluation as a result of aggressive monetary expansion policy or investing in a really scarce active that has appreciated 77% per year in dollars in the past decade and has a market capitalization of approximately $ 1.5 billion? “
The model of the strategy
The Bitcoin investment strategy of Méliuz appears to be direct inspiration from the strategy. It called the success of the company under the leadership of Michael Saylor after the addition of BTC to his treasury, where the shares of the company rise 423% last year.
The movement from Méliuz to Bitcoin comes in the midst of decreasing investor’s interests in his shares. The company, which reached a peak valuation of R $ 6 billion (more than $ 1 billion) in mid -2021, saw its stock trade with daily volumes at that time an average of $ 43.3 million.
Méliuz is valued today at almost $ 47 million, with less than $ 700,000 in daily trading volume and minimal coverage of analysts. In a letter to shareholders, Salmen recognized this decrease and noted that the shares of the company have lost the Marketrelevance.
