Méliuz Becomes First Brazilian Firm to Adopt Bitcoin Treasury Strategy, Stock Surges 116%

Méliuz, a Brazilian fintech company, has made a significant move by adopting a Bitcoin treasury strategy, becoming the first publicly traded firm in Brazil to do so. Following shareholder approval, the company purchased 274.52 BTC, valued at approximately $28.4 million, to bolster its existing Bitcoin holdings. This acquisition brings Méliuz’s total Bitcoin treasury to 320.3 BTC, valued at just over $33 million. The company’s initial purchase of 45.73 BTC was made on March 6, and the latest acquisition was made at an average price of $103,604, yielding a 600% return on the firm’s initial crypto strategy.

Executive Chairman Israel Salmen celebrated the milestone, stating, “Historic day! Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil.” The company’s mission as a Bitcoin treasury firm is to accumulate Bitcoin in an accretive way for shareholders, leveraging its cash generation and corporate and capital market structures to increase exposure to the asset over time.

Since adopting its Bitcoin treasury strategy in early March, Méliuz has seen its stock price surge by 116%, rising from $0.68 to $1.47. This price rally is reminiscent of trends seen with early adopters like MicroStrategy and Metaplanet, whose shares also surged following Bitcoin accumulation. Salmen emphasized that Méliuz’s Bitcoin purchases are now embedded in its core business strategy, positioning it as the first publicly listed Bitcoin treasury firm in Latin America.

While Méliuz is gaining traction, regional competitor MercadoLibre still holds a larger reserve of 570 BTC, valued at $59.2 million, after adding 157.7 BTC to its treasury on March 31. This highlights the intensifying global crypto race, with nations stepping up their efforts to establish dominance in the digital asset space. New York City, under Mayor Eric Adams’ pro-crypto leadership, is actively working to reclaim its position as a leading digital asset hub. Meanwhile, Switzerland is contemplating the inclusion of Bitcoin in its national reserves.

These developments come as Bitcoin trades at $103,611.21, up 1.33% in the last 24 hours. With bullish technical indicators reinforcing upward momentum, it’s clear that global competition is fueling renewed confidence in the crypto market. Méliuz’s bold move into the crypto space positions it as a pioneer in Latin America, setting a precedent for other publicly traded firms to follow suit. The company’s success in accumulating Bitcoin and the subsequent surge in its stock price demonstrate the potential benefits of integrating cryptocurrency into a firm’s treasury strategy. As the global crypto race intensifies, Méliuz’s example serves as a testament to the growing acceptance and adoption of Bitcoin as a valuable asset in the corporate world.