- Brazilian fintech unicorn Meliuz has started purchasing Bitcoin as part of a new treasury strategy, acquiring 45.72 BTC for approximately $4.1 million.
- The company’s board approved allocating up to 10% of its cash reserves to Bitcoin, seeking long-term returns on the asset.
- Meliuz established a Bitcoin Strategic Committee to analyze potential expansion of the strategy, including possibly making Bitcoin its main treasury asset.
Brazilian fintech Meliuz enters cryptocurrency market by adding Bitcoin to its corporate treasury, purchasing 45.72 BTC worth $4.1 million at an average price of $90,296 per coin. The cashback and financial technology services provider joins the growing trend of traditional finance companies incorporating digital assets into their financial strategies.
Meliuz, which has achieved unicorn status in Brazil‘s fintech sector, announced on March 6 that its board of directors has approved a new treasury management approach that allows the company to allocate up to 10% of its cash reserves to Bitcoin, as reported by local news agency Visno Invest.
The company has already executed its first Bitcoin purchase, demonstrating immediate implementation of the strategy. According to the report, Meliuz is not pursuing short-term trading gains but rather positioning itself for long-term value appreciation through its Bitcoin holdings.
To ensure proper governance of this initiative, the company has created a dedicated Bitcoin Strategic Committee. This specialized group will be responsible for conducting analyses regarding potential expansion of the strategy, overseeing purchasing operations, and establishing relevant guidelines for the company’s cryptocurrency activities.
The committee’s scope extends beyond just managing current Bitcoin holdings. Reports indicate that Meliuz executives will conduct comprehensive analyses to determine whether to expand their cryptocurrency strategy, potentially elevating Bitcoin to become the main strategic asset in the company’s treasury.
“The company’s management believes that the treasury strategy focused on the Bitcoin reserve has significant potential for maximizing value for the company and its shareholders,” Meliuz stated regarding its decision to enter the cryptocurrency market.
This move by Meliuz represents part of a broader trend where traditional financial institutions and publicly traded companies are increasingly viewing BTC as a legitimate treasury asset. The Brazilian fintech joins other notable companies that have adopted Bitcoin as a component of their corporate treasury strategies in recent years.
The development remains ongoing, with further information expected to emerge as Meliuz continues implementing its Bitcoin treasury initiative.
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