"Brazil witnessed something new today on its B3 stock exchange - a company going public not for its products, but for its Bitcoin. OranjeBTC, a Brazilian firm founded by former Bridgewater Associates executive Guilherme Gomes, began trading today on B3, the São Paulo-based exchange that anchors Latin America's capital markets. Backed by some of the biggest names in global crypto, the company enters public markets holding 3,675 BTC instantly becoming the region's largest corporate Bitcoin holder."
"At current prices, its holdings are worth more than $444 million. Their haul dwarfs the 605 bitcoin held by fellow Brazilian fintech Méliuz, which last year became the country's first listed firm to adopt a Bitcoin treasury strategy. The company's model mirrors Strategy's playbook in the United States: issue convertible debt, raise capital, and buy Bitcoin. Earlier this year, OranjeBTC secured a $210 million investment from Brazil's largest bank, Itaú, through its investment arm Itaú BBA, positioning its BTC reserves as a long-term strategic asset."
"But Gomes insists OranjeBTC's vision goes beyond balance sheets. The company is launching an educational platform designed to teach shareholders and institutional investors about Bitcoin's monetary properties - what it calls a "learning layer" for Brazil's next generation of savers. "We want to be an information center and help Brazilians and Latin Americans understand what money is, the role of a tangible asset, and how Bitcoin works," Gomes told WIRED en Español in September."
OranjeBTC began trading on Brazil's B3 exchange as a public company built around a Bitcoin treasury, holding 3,675 BTC valued at over $444 million. The firm's holdings exceed those of Brazilian fintech Méliuz, which holds 605 BTC. OranjeBTC raised capital by issuing convertible debt and secured a $210 million investment from Itaú BBA, attracting backers such as the Winklevosses, Ricardo Salinas, FalconX, Adam Back, Off the Chain Capital and ParaFi Capital. The company plans a reverse IPO via a merger into Intergraus and will launch an educational platform to teach Bitcoin's monetary properties to investors.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]