Brazilian fintech company Méliuz has become the first listed company in Brazil and Latin -America that takes Bitcoin as a treasury after approval from the shareholders.
In one rack Published on 15 May, said the cashback-oriented company, which serves more than 30 million users, that it had officially changed his business goal to include Bitcoin investments as part of its business strategy. The move was Greenlit with a broad majority during an extraordinary general meeting earlier in the day.
As part of the shift, Méliuz acquired 274.52 bitcoin for around $ 28.4 million at an average price of $ 103,604.
The newest Trek builds on its first Bitcoin purchase of 45.73 BTC in March of this year, so that the total interest of the company is brought to 320.25 BTC, with a value of more than $ 33 million based on current prices.
“The most important mission of a Bitcoin Treasury Company is to collect Bitcoin for shareholders in an accretative way, using its cash generation and business and capital market structures to increase exposure to the active over time,” Méliuz wrote.
Instead of treating Bitcoin as a hedge, Méliuz has moved his mission to maximize the amount of Bitcoin per share, so that his capital strategy is coordinated in the long term BTC exposure.
It calls it a ‘historical day’, Méliuz Executive chairman Israel Salmen SaiD The company had officially become the “first Bitcoin Treasury Company in Brazil.”
He added that the BTC holdings of the company now have a yield of 600% when invoicing in his 6 March purchase.
Since the first Bitcoin purchase on March 6, Méliuz (Cash3.sa) has seen his share price more than 117%, making it one of the best performing shares on the Brasil Bolsa Balcão.
Méliuz has joined a growing list of public companies around the world that turns to Bitcoin-oriented balance sheets, many in the footsteps of Michael Saylor-guided strategy, which pioneered in the Treasury strategy in 2020.
Earlier this week, the Al Abraaj Group of Bahrain became the first listed company in the Middle East that Bitcoin adopted as a Treasury activa. It started with a modest 5 BTC purchase and says that there is more as part of a long-term shift that is supported by 10x capital.
According to Al Abraaj, the initiative is part of a “future-oriented approach” to unlock Bitcoin exposure for regional investors.
In the US, the Bitcoin-Native holding company of David Bailey, Nakamoto, recently made public through a merger with friendly MMD, which raised $ 710 million to launch what he described as a “Bitcoin conglomerate”.
