- Méliuz will be the first listed company in Brazil to hire a Bitcoin Treasury strategy.
- The BTC holdings of the company rise to 320.3, as a result of which the stock race has increased by 116% by 116% since March.
Brazilian fintech company Méliuz has taken a bold step in the crypto space by taking a bitcoin [BTC] Treasury strategy, which will be the first listed company in the country to do this.
The Brazilian Méliuz assumes Bitcoin Treasury strategy
After approval of the shareholders, the company confirmed the purchase of 274.52 BTC, with a value of approximately $ 28.4 million, to help its existing Bitcoin holdings move forward.
Note about the same, executive chairman Israel Salmen taken to X and noted,
“Historical day! Our shareholders have approved the transformation of Méliuz into the first Bitcoin Treasury Company by a large majority that is mentioned in Brazil.”
For context, Méliuz acquired Bitcoin Holdings at an average price of $ 103,604, who earned them a return of 600% on the company’s first crypto strategy.
With this last acquisition, the total Bitcoin Treasury of Méliuz was 320.3 BTC, with a value of just over $ 33 million, built at the first purchase of 45.73 BTC made on 6 March.
Provide more information, the company further added”
“The most important mission of a Bitcoin Treasury Company is to collect Bitcoin for shareholders in an accretative way, using the cash generation and business market structures to increase exposure to the active over time.”
Impact on Méliuz
Since the start of his Bitcoin Treasury strategy at the beginning of March, Méliuz has seen his share price with 116%and climbs from $ 0.68 to $ 1.47.
This price rally reflects trends that are seen in early adopters such as micro strategy and metaplanet, whose shares increase in the same way after Bitcoin accumulation.
That said, Salmen also emphasized that the Bitcoin purchases from Méliuz are now embedded in its core business strategy, which is positioned as the first Bitcoin Treasury Firm in Latin -Amerika.
Therefore, while Méliuz is gaining traction, the regional competitor Mercadolibre is still in possession A larger reserve, 570 BTC with a value of $ 59.2 million, after adding 157.7 BTC to his treasury on 31 March.
Other countries increase their crypto -adoption
This emphasizes that the global crypto race is intensifying, whereby nations arise while the US speeds up its efforts to establish dominance.
New York City, under the pro-Crypto leadership of Mayor Eric Adams, actively works on recovering his position as a leading digital assets hub.
In the meantime, Switzerland has been brought into the attention by considering the inclusion of Bitcoin in its national reserves.
These developments come as Bitcoin trade at $ 103,611.21, an increase of 1.33% in the last 24 hours Mint market cap.
With bullish technical indicators that strengthen the upward momentum, it is clear that global competition feeds the renewed confidence in the cryptomarkt.