Méliuz Becomes Brazil’s First Public Bitcoin Financing Company
The executive chairman of Méliuz has declared that the fintech now stands as Brazil’s first public Bitcoin financing company, following a favorable vote from shareholders. The company also revealed its acquisition of Bitcoin valued at $28.4 million to boost its existing holdings.
“Today marks a historic moment! Our shareholders have overwhelmingly backed Méliuz’s transformation into the first publicly listed Bitcoin finance company in Brazil,” stated Israeli Salmen on May 15.
Salmen mentioned that the firm purchased 274.52 Bitcoin (BTC) at an average cost of $103,604, securing a notable 600% return on its Bitcoin investments.
Currently, Méliuz possesses 320.3 Bitcoin, with a total worth exceeding $33 million. This latest acquisition marks the first time the company bought 45.73 Bitcoin on March 6.
In a statement released on May 15, Méliuz explained that it uses diverse financial products for Bitcoin accumulation in “additive ways” for its shareholders.
“Alongside allocating a portion of cash to Bitcoin as a safeguard against inflation or currency depreciation, the company is redefining its mission to maximize Bitcoin per share for investors.”
Salmen emphasized that Méliuz is the first Bitcoin finance company operating in Latin America, integrating planned Bitcoin investments as part of its ongoing “business strategy.”
According to data from bitcointreasuries.net, Merca Dribre, another e-commerce platform, has accumulated over 570 Bitcoins valued at $59.2 million, following its purchase of 157.7 Bitcoin on March 31.
Méliuz Among Brazil’s Top-Performing Stocks
As reported by Google Finance, Méliuz (Cash3.SA) ranks among the best-performing stocks in Brasil Bolsa Balcão since announcing its initial Bitcoin purchase on March 6.
The company currently holds a market capitalization of 727.9 million Brazilian Real, or more than $128 million.
Fintech companies like Méliuz are recognized for their cashback programs, serving more than 30 million users throughout Brazil.
