Méliuz, a Brazilian fintech, plans to invest 10% of its cash reserves in bitcoin, having already acquired $4.1 million worth of BTC. The board has approved this strategy to pursue long-term financial benefits, noting a user base of over 30 million in Brazil. The company is also exploring further integration of bitcoin into its treasury strategy.
Brazilian fintech Méliuz has announced its intention to allocate up to 10% of its cash reserves to bitcoin (BTC) as part of a long-term investment strategy. This decision, which was approved by the company’s board of directors, aims to generate substantial long-term returns from the cryptocurrency market.
As a preliminary move, Méliuz has already acquired 45.72 BTC, amounting to approximately $4.1 million, purchased at an average price of $90,926 per bitcoin. The company, which boasts over 30 million registered users in Brazil, operates a cashback and financial services platform.
Moreover, Méliuz is considering the expansion of its treasury strategy, exploring the potential of adopting bitcoin as a primary asset and ways to generate additional bitcoin for its shareholders. This shift marks a strategic evolution for the firm in its approach to digital assets.
In summary, Méliuz, a leading Brazilian fintech, has strategically decided to invest a portion of its cash reserves in bitcoin to achieve long-term financial gains. With its recent purchase of 45.72 BTC, the company is poised to explore further opportunities in the cryptocurrency realm, potentially adopting bitcoin as a core asset in its treasury management.
Original Source: www.coindesk.com
