OranjeBTC, a Bitcoin-focused firm, is set to become Brazil’s largest publicly traded Bitcoin treasury company, following an announcement of its latest purchase of approximately $385 million in Bitcoin (BTC). The firm will list on Brazil’s B3 stock exchange in early October, debuting with more than $400 million in Bitcoin reserves.
A report by local media outlet Brazil Journal, confirmed that OranjeBTC acquired 3,650 BTC for roughly $385 million at an average price of $105,300 per coin. The firm has received notable backing from high-profile crypto investors like Cameron and Tyler Winklevoss, FalconX, and billionaire Ricardo Salinas. Two of the largest asset managers in the U.S., Off the Chain and ParaFi Capital, also have supported the initial funding round.
“OranjeBTC is now the largest Bitcoin treasury company in Latin America. We’re just getting started,” the company stated. This positions OranjeBTC as a pioneer in the region, offering an institutional gateway for Bitcoin investment.
Reverse merger strategy
The listing will occur through a reverse merger with Intergraus, a prep-course provider already listed on the B3 exchange. OranjeBTC will take over Intergraus’ listing after final board and regulatory approvals. Once the merger completes, the company will have a free float of about 85% of its capital.
“We are taking the formal steps to ring the bell at B3 sometime in the first ten days of October,” said OranjeBTC CEO and Founder Guilherme Gomes. OranjeBTC also plans to use Intergraus’ education platform to launch a financial literacy project focused on cryptocurrency.
Bitcoin-only focus
OranjeBTC stands out as Latin America’s first publicly traded company fully dedicated to Bitcoin accumulation. Gomes emphasized the potential for growth, noting, “Michael Saylor recently said that this investment model effectively began in November of last year. We’ll soon see banks and insurance companies doing the same.”
Bitcoin currently trades at $112,388, down 0.36% over the last 24 hours, according to CoinMarketCap. Despite minor dips, OranjeBTC’s strategy reflects strong long-term conviction in Bitcoin’s growth.
Increasing trend of BTC treasuries
Notably, Bitcoin treasuries have grown from merely an experiment to one of Wall Street’s most intriguing growth strategies. Following in MicroStrategy’s footsteps, a number of companies are now embracing the idea of holding BTC as a central part of their business model.
The recent acquisition of Selmer by Strive and KindlyMD’s merger with Nakamoto Holdings suggest increasing efforts for mutual growth in the institutional Bitcoin holdings landscape. This indicates a new order for pre-emptive consolidation in the interest of more stability as opposed to outright Bitcoin acquisitions.
OranjeBTC going public opens the door for big investors in Latin America to put money into Bitcoin. The move could spark a trend of more companies in the region focusing only on Bitcoin investments.
Also Read: Euronext-listed Capital B Raises €1.2M to Expand Bitcoin Treasury
