OranjeBTC (B3: OBTC3), Latin America’s first publicly listed Bitcoin treasury firm, executed a share repurchase this week, buying back 99,600 shares between October 27 and 30. The firm opted to buy equity instead of Bitcoin after determining that its shares were trading below its adjusted Net Asset Value (mNAV).
This strategic move, described as a disciplined execution of its treasury share policy, effectively allowed OranjeBTC to acquire Bitcoin “at a discount” by shrinking the outstanding share base. The core objective is to prioritize shareholder efficiency and NAV parity over raw accumulation.
According to the filing, OranjeBTC did not purchase additional Bitcoin during the period, maintaining reserves at 3,708 BTC valued at roughly $390.9 million.
From stock buybacks to satoshis
Earlier this week, OranjeBTC reported adding 7 BTC to its treasury, reinforcing its thesis as a Bitcoin-native firm. The buyback and recent acquisition illustrate a mix of equity management and ongoing BTC accumulation.
Instead of using cash to directly increase its fixed pool of Bitcoin, OranjeBTC used it to reduce its outstanding shares. The buyback, executed at an average price of R$13.12, increased its year-to-date Bitcoin yield to 1.88%, with each share now representing approximately 2,279 satoshis.
The strategy centers on increasing Bitcoin per share rather than just growing reserves. By choosing buybacks over new BTC purchases, the company calls it prioritizing shareholder efficiency and NAV parity over raw accumulation.
Headquartered in Brazil and traded on the country’s main stock exchange, OBTC3 operates under a regulated, publicly listed structure, which provides a level of visibility and credibility uncommon among regional Bitcoin holders.
Additionally, a blackout period on the company’s treasury operations began on October 31, ahead of its third-quarter results scheduled for mid-November.
Now listed on B3, the company illustrates how traditional finance tools are being adapted to manage Bitcoin balance sheets within emerging markets.
Also read: Bitcoin Treasury Firm Sequans Transfers 970 BTC Worth $111M to Coinbase
