Brazilian fintech Méliuz has announced an investment strategy to allocate up to 10% of its cash reserves into Bitcoin. The firm has already purchased 45.72 BTC for about $4.1 million, aiming for long-term returns. Serving over 30 million users in Brazil, Méliuz is exploring further integration of Bitcoin into its treasury management strategies.
Méliuz, a prominent Brazilian fintech company, has decided to invest a portion of its cash reserves in Bitcoin (BTC) as part of its long-term treasury strategy. This decision was approved by the firm’s board of directors, allowing for an allocation of up to 10% of its cash holdings towards Bitcoin investments to secure potential long-term returns.
In a recent securities filing, it was disclosed that Méliuz has already acquired 45.72 BTC, amounting to approximately $4.1 million, with an average purchase price of $90,926 per Bitcoin. This strategic move aims to enhance the value of the company’s treasury.
Méliuz is recognized for its cashback services and financial platform and boasts more than 30 million registered users in Brazil. Additionally, the company is considering broadening its treasury strategy with Bitcoin, exploring it as a primary asset and seeking methods to enhance shareholder value through cryptocurrency investments.
Francisco Rodrigues, a dedicated reporter at CoinDesk, covers cryptocurrencies and personal finance, bringing valuable insights to the financial sector. He is also an owner of various cryptocurrencies, including Bitcoin, Ethereum, Solana, and PAXG.
In summary, Méliuz’s decision to allocate 10% of its cash reserves to Bitcoin marks a significant step in its treasury strategy aimed at achieving long-term returns. The company’s existing Bitcoin purchase reflects its commitment to expanding investment in cryptocurrency, potentially transforming asset management practices in the fintech sector. With a robust user base, Méliuz is positioning itself for future growth and innovation in the digital finance landscape.
Original Source: www.coindesk.com
