Brazilian fintech firm Méliuz has made history by becoming the country’s first publicly traded Bitcoin treasury company. Executive chairman Israel Salmen announced the news on X, calling it a “historic day” after shareholders overwhelmingly approved the company’s strategic shift.
On May 15, Méliuz purchased 274.52 Bitcoin worth $28.4 million at an average price of $103,604. This brings its total Bitcoin holdings to 320.3 BTC, which are now valued at over $33 million. The latest purchase adds to its initial purchase of 45.73 BTC made on March 6.
Méliuz isn’t just buying Bitcoin to hedge against inflation. According to its official statement, the company aims to maximize Bitcoin per share by using various financial tools. Salmen emphasized that Bitcoin is now central to Méliuz’s business strategy, making it the first such firm in Latin America.
While e-commerce giant MercadoLibre holds more Bitcoin (570+ BTC worth $59.2 million), Méliuz stands out as the only publicly-listed firm in Brazil fully integrating Bitcoin into its corporate strategy.
After Méliuz became involved in Bitcoin, its stock (CASH3.SA) has seen a huge rise. The stock has risen by 117% on the Brasil Bolsa Balcão and is now considered one of the top performers since March.
Méliuz, which is famous for its cashback service, has more than 30 million users in Brazil. Since the company’s market cap is over $128 million, its big Bitcoin bet could encourage others in Latin America to do the same.
Also Read: Brazil Stock Exchange to Launch Ethereum, Solana Futures
