Méliuz, a Brazilian fintech, has allocated 10% of its cash reserves to bitcoin, investing $4.1 million to acquire 45.72 bitcoins. This initiative makes it the first publicly traded company in Brazil to adopt a bitcoin treasury strategy. The decision aims for long-term investment returns, supported by a newly formed Bitcoin Strategic Committee. Chairman Israel Salmen highlighted bitcoin as an intelligent alternative to traditional cash reserves. The company hopes this move will renew investor interest amid a decline in stock value, reflecting broader growth in Brazil's crypto sector, which saw over $200 billion traded last year.
Brazilian fintech Meliuz has allocated 10% of its cash reserves into bitcoin, becoming the first publicly traded firm in Brazil to adopt a bitcoin treasury strategy.
Meliuz invested $4.1 million in bitcoin to seek long-term returns and has established a Bitcoin Strategic Committee to develop its cryptocurrency strategy.
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