Brazilian Fintech Meliuz Dives into Bitcoin for Long-Term Value
1min read Brazilian fintech unicorn Meliuz has recently adopted a Bitcoin treasury strategy, marking a significant shift in its financial management approach. The company, known for its cashback and financial technology services, has begun purchasing Bitcoin as part of a new treasury management strategy aimed at maximizing long-term shareholder value. This move aligns with a growing trend among traditional finance companies to hold cryptocurrency assets.
On March 6, Meliuz announced that its board of directors had approved the accumulation of up to 10% of the company’s cash in Bitcoin (BTC). This decision was reported by local news agency, which also revealed that Meliuz had already completed its first Bitcoin acquisition. The company purchased 45.72 Bitcoin for approximately $4.1 million, at an average price of $90,296 per BTC. This strategic move is part of Meliuz's effort to seek long-term returns on the asset.
To support this new strategy, Meliuz has established the Bitcoin Strategic Committee. This committee will be responsible for conducting analysis to expand the strategy, as well as overseeing purchasing operations and related guidelines. The executive board will also conduct a detailed analysis to determine whether to further expand the Bitcoin strategy, including the possibility of adopting Bitcoin as the main strategic asset of the company’s treasury. Meliuz's management believes that this treasury strategy focused on Bitcoin reserves has significant potential for maximizing value for the company and its shareholders.
