Bitcoin treasury company debuts publicly in Brazil: Could Meliuz be the upcoming Strategy?
Daring into Digital Gold: Méliuz Makes History in Brazil as First Bitcoin Treasury Firm
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Méliuz strikes grounds as Brazil's pioneer in adopting a Bitcoin [BTC] treasury strategy.Record-breaking 320.3 BTC holdings, soaring stock price by 116% since March.
Breaking barriers, fintech contender Méliuz leaps onto the Bitcoin bandwagon, transforming into Brazil's first publicly-listed Bitcoin treasure company.
Brazil's Méliuz and its Bitcoin treasures
Post-shareholder approval, Méliuz procured a whopping 274.52 BTC, valued at roughly $28.4 million, to reinforce its existing Bitcoin stash. Canada-based Executive Chairman Israel Salmen spoke up on the matter, 🗣️
"Historic day! Our shareholders have, overwhelmingly, given a thumbs-up to the shift of Méliuz into a fervent Bitcoin Treasury Company listed in Brazil."
Diving deeper, Méliuz's initial Bitcoin entrance cost them an average of $103,604 per token, fetching them an impressive 600% return on their inaugural Bitcoin bet.
With this latest investment, Méliuz's Bitcoin hoard reached an impressive 320.3 BTC, valued at $33 million, after picking up 45.73 BTC on March 6.
Expanding on the subject, the company asserted, 📝
"The guiding principle of a Bitcoin treasure company is to aggregate Bitcoin in a profitable manner across shareholders, utilizing its cash influx, corporate and capital market structures to progressively expand our exposure to the asset over time."
Impact on Méliuz
Ever since embarking on its Bitcoin treasury journey in March, Méliuz has seen its stock price catapult by 116%, soaring from $0.68 to $1.47.
This stock surge echoes the ascent of early adopters like MicroStrategy and Metaplanet, whose shares experienced similar growth following their Bitcoin buys.
Salmen, however, made it clear that Méliuz's Bitcoin acquisitions are now an integral element of its core business strategy, placing it at the forefront as Latin America's first publicly-traded Bitcoin treasure company.
While Méliuz seems to be flourishing, regional rival MercadoLibre still holds a larger reserve, boasting 570 BTC valued at $59.2 million. MercadoLibre expanded its Bitcoin holdings by 157.7 BTC on March 31.
The global Bitcoin race heats up
This push for crypto adoption has reached fever pitch, with nations speeding up their efforts to take the lead in the crypto space.
New York City, helmed by crypto-friendly Mayor Eric Adams, is 🚀 actively positioning itself as a leading digital asset hub.
On the other hand, Switzerland is capturing headlines by mulling over the prospect of adding Bitcoin to its national reserves.
As Bitcoin trades at $103,611.21 (up 1.33% in 24 hours as per CoinMarketCap), these developments point to bullish technical indicators reinforcing the crypto market's positive trajectory.
- Melezuz's decision to transform into a Bitcoin Treasury Company has been backed by its shareholders, making it the first publicly-listed Bitcoin Treasury firm in Brazil.
- Brazilian fintech company Melezuz has invested in Ethereum (ETH), in addition to Bitcoin (BTC), further diversifying its crypto holdings.
- The crypto market is influenced not only by technology but also by finance, as investing in cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) has become a popular trend among businesses.
- As more nations speed up their efforts to adopt cryptocurrencies, the global Bitcoin race is heating up, with countries like New York City and Switzerland looking to capitalize on the growth of the crypto market.
