Brazilian Fintech Unicorn Meliuz Implements Bitcoin Treasury Strategy

Brazilian fintech unicorn Meliuz announced on March 6 that it has commenced the purchase of Bitcoin as part of a new treasury management strategy, joining a growing trend among traditional finance companies to hold cryptocurrency assets.
Meliuz, which offers cashback and financial technology services, revealed its entry into the cryptocurrency market following the approval of its board of directors to accumulate up to 10% of the company’s cash in Bitcoin (BTC), as reported by local news agency Visno Invest.
According to the report, Meliuz has already completed its first Bitcoin acquisition, purchasing 45.72 Bitcoin for approximately $4.1 million at an average price of $90,296 per BTC.
The report indicated that through its Bitcoin treasury strategy, Meliuz aims to achieve long-term returns on the asset.
Meliuz embraces Bitcoin treasury strategy
As per Visno, Meliuz also announced the establishment of a Bitcoin Strategic Committee, which will conduct analyses to expand the strategy and oversee purchasing operations and related guidelines.
Furthermore, the executive board is expected to perform a detailed analysis on whether to enhance the Bitcoin strategy, including the consideration of adopting Bitcoin as the main strategic asset of the company’s treasury.
“The company’s management believes that the treasury strategy centered around the Bitcoin reserve has significant potential to maximize value for the company and its shareholders,” Meliuz reportedly stated.
This is a developing story, and further information will be added as it becomes available.