**Méliuz Becomes First Publicly Traded Brazilian Company to Invest in Bitcoin Treasury Strategy**
Brazilian fintech company Méliuz has made headlines by allocating 10% of its cash reserves to Bitcoin, marking it as the first publicly traded firm in Brazil to implement a Bitcoin treasury strategy. The company invested $4.1 million to acquire 45.72 bitcoins at an average price of $90,926 per coin, which constitutes approximately 10% of its total cash holdings, as per a new policy approved by its board of directors.
In an official statement, Méliuz expressed that this Bitcoin allocation aims to achieve “long-term returns” as part of its treasury management strategy. Additionally, the company has established a Bitcoin Strategic Committee to explore the potential for expanding its strategy and positioning Bitcoin as a primary treasury asset.
Méliuz Chairman Israel Salmen shared with local media that the decision to invest in Bitcoin offers an “intelligent alternative” to traditional cash reserves. He emphasized, “We see Bitcoin as a long-term store of value.” This $4.1 million investment positions Méliuz as the first publicly listed Brazilian company to include Bitcoin on its balance sheet, following the footsteps of U.S. firms like MicroStrategy, which holds over 500,000 bitcoins valued at more than $46 billion.
Méliuz provides cashback and financial services to over 30 million users across Brazil. However, the company’s stock price has significantly declined from a peak valuation of nearly $6 billion in 2021 to approximately $270 million today. Salmen noted that the low trading volume has rendered Méliuz shares seemingly “irrelevant” in public markets, and he hopes that this innovative Bitcoin initiative will rekindle investor interest.
The Bitcoin and cryptocurrency sector in Brazil has experienced rapid growth, with over $200 billion traded last year. Méliuz is optimistic that its Bitcoin treasury allocation will yield higher long-term returns compared to Brazil’s benchmark interest rate of 13.75%.
This strategic move not only positions Méliuz at the forefront of the fintech revolution in Brazil but also highlights the increasing acceptance of Bitcoin as a viable asset for corporate treasury management.
