Brazil Bitcoin: Méliuz Becomes First Public Treasury Company, Stock Surges
Brazil is making significant strides in the world of digital assets, and a recent development highlights this trend. Brazilian fintech firm Méliuz has officially stepped into the spotlight, becoming a pioneering Brazil Bitcoin treasury company. This move signals a growing embrace of cryptocurrency within the country’s corporate sector.
Brazil Bitcoin: Méliuz Makes History
Shareholders of Méliuz gave their stamp of approval on May 15 for the company’s proposal to become a Bitcoin treasury firm. This decision is notable as the company’s executive chairman, Israel Salmen, stated that Méliuz is the first publicly-traded Bitcoin treasury company in Brazil following this approval. This positions Méliuz as a frontrunner in Latin America’s corporate adoption landscape.
Corporate Bitcoin: Strategic Shift and Holdings
Beyond the strategic shift, Méliuz also announced a substantial acquisition of Bitcoin. The firm added 274.52 BTC to its reserves. This latest purchase brings Méliuz’s total Corporate Bitcoin holdings to 320.3 Bitcoin. At the time of the announcement, these holdings were valued at over $33 million.
The company’s approach to accumulating Bitcoin is described as ‘accretive’ for shareholders, utilizing various financial instruments. Méliuz stated its purpose has been repositioned to act by maximizing the amount of Bitcoin per share, moving beyond simply allocating cash as a hedge.
Details of Méliuz’s Bitcoin purchases:
- **First Purchase (March 6):** 45.73 BTC
- **Latest Purchase (May 15):** 274.52 BTC (Average price ~$103,604)
- **Total Holdings:** 320.3 BTC (Valued at over $33 million at announcement)
Méliuz Stock Performance
The market has responded positively to Méliuz’s embrace of Bitcoin. Since the initial announcement of its first Bitcoin purchase on March 6, Méliuz’s stock (CASH3.SA) has seen significant growth on the Brasil Bolsa Balcão. Data indicates the stock increased more than 117% following the news, making it one of Brazil’s top-performing stocks recently. The company’s market cap now sits at over $128 million.
Crypto Adoption Brazil: A Growing Trend
Méliuz’s decision is a clear indicator of increasing Crypto adoption Brazil among publicly listed companies. While Méliuz claims to be the first publicly-traded Bitcoin treasury company in Brazil with Bitcoin investment as part of its business strategy, other Brazilian companies also hold Bitcoin. For example, e-commerce platform MercadoLibre holds over 570 Bitcoin, valued higher than Méliuz’s current stack, according to data from BitcoinTreasuries.NET. Méliuz, already known for its popular cashback program serving over 30 million users in Brazil, is now linking its core business strategy more directly to Bitcoin.
Summary
Méliuz’s shareholder approval and subsequent Bitcoin purchase mark a significant moment for Brazil Bitcoin adoption. By officially becoming a Bitcoin treasury company and making Bitcoin accumulation a core part of its strategy to maximize Bitcoin per share, Méliuz is setting a precedent in Brazil’s corporate sector. This strategic shift, coupled with the strong performance of its stock since the initial Bitcoin purchase, highlights the growing interest and potential impact of Corporate Bitcoin strategies in emerging markets like Brazil. The move contributes to the broader trend of Crypto adoption Brazil and Latin America.
