Méliuz Acquires $28.4M in Bitcoin, Becomes Brazil's First Bitcoin Treasury Firm

Brazilian fintech firm Méliuz has made a significant move in the cryptocurrency space by acquiring $28.4 million in Bitcoin. This acquisition is part of a long-term corporate strategy to integrate Bitcoin into its financial operations, making Méliuz the first Bitcoin treasury company in Brazil.

The strategic decision to purchase $28.4 million worth of Bitcoin was confirmed by Méliuz chairman Israel Salmen. This move marks a pivotal shift in the firm’s financial strategy, as it aims to incorporate cryptocurrency into its core treasury model. Salmen described the acquisition as a “historic day” for both Méliuz and Brazil’s financial sector, highlighting that shareholders had approved the company’s transition into a Bitcoin-focused treasury firm with a significant majority.

The recent purchase involved acquiring 274.52 Bitcoin at an average price of $103,604, increasing Méliuz’s total Bitcoin reserves to 320.2 BTC. The average acquisition cost for these reserves is $101,703.80. This transaction follows an initial Bitcoin acquisition of 45.73 BTC in early March. At current market prices, Méliuz’s Bitcoin holdings now exceed $33 million, with Bitcoin valued at $104,012 at the time of reporting.

Despite Méliuz’s leadership claim in Brazil, regional figures indicate that e-commerce platform currently holds a larger Bitcoin treasury in Latin America, with 570 Bitcoin valued at approximately $59.2 million, following its most recent purchase of 157.7 BTC in March.

Méliuz’s Bitcoin strategy involves accumulating the asset in an “accretive way” for shareholders through various financial instruments. Unlike treating Bitcoin as a hedge against inflation or currency depreciation, the firm has integrated it into its broader business strategy. The goal is to increase Bitcoin per share for investors. Salmen noted in his announcement, “Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil.”

This treasury strategy mirrors that of U.S.-based MicroStrategy, the largest corporate Bitcoin holder globally. Salmen recently met with Michael Saylor, co-founder of MicroStrategy, to celebrate Méliuz’s crypto-focused direction, crediting Saylor for “paving the way” for corporate Bitcoin adoption.

Méliuz has experienced a surge in stock performance since its initial Bitcoin announcement on March 6. The stock has risen significantly, propelling the company’s market capitalization to 727.9 million Brazilian real, or roughly $128 million. The fintech firm has also been strengthening its presence in the crypto ecosystem by joining Bitcoin For Corporations as an executive member. The platform praised Méliuz for “transforming Brazil’s fintech landscape” and integrating Bitcoin into its treasury strategy as part of its long-term vision in a fast-evolving financial world.