In a landmark move, Brazil’s fintech company Méliuz has become the first publicly listed firm in Brazil and Latin America to embrace Bitcoin as a treasury asset. Following shareholder approval on May 15, this innovative shift marks a significant evolution in corporate finance in the region.
The cashback-focused company, which serves over 30 million users, officially revised its corporate purpose to include Bitcoin investments, showcasing a commitment to adapting modern digital currencies into its business strategy. This shift was broadly approved during an extraordinary general meeting, illustrating strong shareholder support.
In a bold step forward, Méliuz has acquired 274.52 Bitcoin for approximately $28.4 million at an average price of $103,604. This addition complements an earlier purchase of 45.73 BTC in March, bringing the firm’s total holdings to 320.25 BTC, valued at over $33 million based on current market prices.
Méliuz outlines that its strategy as a Bitcoin Treasury Company focuses on increasing Bitcoin exposure for shareholders, positioning BTC not just as a hedge but as a core component of its long-term capital strategy. “A Bitcoin Treasury Company’s main mission is to accumulate Bitcoin in an accretive way for shareholders,” the firm stated.
During this announcement, Méliuz’s executive chairman, Israel Salmen, hailed the day as “historic,” declaring the firm the first dedicated Bitcoin Treasury Company listed in Brazil. Since its initial foray into Bitcoin on March 6, the company’s stock has skyrocketed by over 117%, making it one of the top-performing stocks on the Brasil Bolsa Balcão.
This development sees Méliuz aligned with a growing number of public firms around the globe pivoting towards Bitcoin-centric strategies, inspired by early adopters like Michael Saylor’s ventures. Recent global trends reveal a shift towards similar strategies, with Bahrain’s Al Abraaj Group also becoming the first listed company in the Middle East to adopt Bitcoin as part of its treasury assets. Meanwhile, the U.S. sees a surge in Bitcoin-native firms announcing public listings, enhancing the appetite for digital assets particularly in corporate finance.
As the landscape of finance continues to evolve, Méliuz stands as a notable example of how fintech firms can harness cryptocurrencies to create value and secure significant returns for shareholders. The future appears bright for the company as it navigates this pioneering path.
