Bitcoin Treasuries Go Mainstream: OranjeBTC's $400M Reserve Sets Emerging Market Benchmark

OranjeBTC is set to list on Brazil’s B3 stock exchange via a reverse merger with Intergraus, a publicly traded education firm, in early October 2025. The transaction, subject to regulatory and corporate approvals, will see OranjeBTC assume control of Intergraus’ listing, with an estimated 85% free float to ensure liquidity for institutional and retail investors OranjeBTC Lands on B3: 3,650 BTC, 400+ Mln$ and Reverse IPO^[1]. The company’s balance sheet will include 3,650 BTC, valued at approximately $400 million based on current prices, positioning it as Latin America’s largest publicly traded Bitcoin treasury firm and among the top global corporate Bitcoin holders OranjeBTC to Become Brazil’s Largest Publicly-Traded Bitcoin Treasury Firm^[2]. This valuation surpasses Brazilian fintech Méliuz, which holds 650 BTC, by nearly sixfold Bitcoin-Focused OranjeBTC to Make Its Debut on Brazil’s B3 Exchange^[3].

The reverse merger strategy bypasses traditional IPO timelines, enabling OranjeBTC to leverage Intergraus’ existing infrastructure while accelerating its entry into the Brazilian capital markets. The company’s approach aligns with the corporate treasury model pioneered by MicroStrategy, with founder Guilherme Gomes emphasizing Bitcoin’s role as a long-term strategic reserve OranjeBTC Becomes Brazil's Top Bitcoin Holder with $385M Purchase^[4]. Institutional backing includes the Winklevoss twins, Blockstream’s Adam Back, Mexican billionaire Ricardo Salinas Pliego, and U.S. asset managers Off the Chain Capital and ParaFi Capital OranjeBTC Set to Make History with Latin America's Largest Bitcoin Treasury Listing^[5]. This convergence of crypto-native and traditional capital enhances credibility, a rare combination in Latin America’s emerging digital asset ecosystem OranjeBTC Buys 3,650 BTC for $385M Ahead of B3 Stock Exchange Debut^[6].

OranjeBTC’s listing also includes a planned educational initiative, leveraging Intergraus’ platform to deliver courses on Bitcoin custody, risk management, and regulatory compliance. The program aims to bridge knowledge gaps among investors and professionals, fostering informed adoption of digital assets OranjeBTC to Debut on Brazil’s B3, Bringing $410 Million in Bitcoin to Public Markets^[7]. This aligns with Brazil’s growing institutional interest in cryptocurrencies, exemplified by B3’s 2022 launch of Bitcoin futures and exploratory crypto custody services OranjeBTC Acquires 3,650 Bitcoin for $385 Million^[8].

The move could catalyze broader adoption of Bitcoin treasuries in the region. Analysts note that a listed company with 3,650 BTC may expand Brazil’s institutional investor base in crypto-linked assets by 10–20%, depending on free float participation OranjeBTC Poised to Become Brazil’s Largest Publicly-Traded Bitcoin Treasury Firm^[9]. For OranjeBTC, success hinges on governance quality, regulatory clarity, and risk management frameworks for its Bitcoin reserves. Post-merger steps include financial statement updates, price-sensitive disclosures, and audits of BTC holdings to meet B3 and CVM (Brazil’s securities regulator) requirements OranjeBTC Lands on B3: 3,650 BTC, 400+ Mln$ and Reverse IPO^[10].

Market observers highlight the transaction’s dual impact: enhancing transparency in corporate Bitcoin holdings and creating a benchmark for valuation standards in emerging markets. While volatility remains a concern, OranjeBTC’s strategy underscores Bitcoin’s growing acceptance as a mainstream asset. The company’s aggressive accumulation model could inspire banks and insurers in Latin America to adopt similar strategies, as seen in the U.S. and Asia OranjeBTC Set to Make History with Latin America's Largest Bitcoin Treasury Listing^[11].