Brazilian fintech firm Meliuz has floated a plan to expand its Bitcoin holdings and make the cryptocurrency a strategic asset on the company’s books.
Meliuz, which provides cashback and financial technology services, is taking the plan to make Bitcoin (BTC) the primary strategic asset in the firm’s treasury to shareholders in a meeting slated for May 6, according to a translated April 14 statement.
The company said its core business will remain unchanged, but “the generation of cash from operations is fundamental to the strategy of acquiring more Bitcoin over time.”
If shareholders approve the measure, Bitcoin will be adopted as the firm’s main strategic treasury asset, but it will also look to foster “the incremental generation of Bitcoin for its shareholders, whether through the generation of operating cash or through possible financial transactions and strategic initiatives.”
Shareholders who disagree with the new direction and held their shares before April 14 can request reimbursement.
Meliuz shares jump on Bitcoin plan
In the trading session after its new Bitcoin plan was announced, Meliuz (CASH3) jumped over 14% from 3.28 Brazilian reals ($0.56) to 3.76 Brazilian reals ($0.64) on the Brazilian Stock Exchange, according to Google Finance.
In total, Meliuz’s share price has spiked up over 27% in the last five days to 3.85 Brazilian reals ($0.65).
Meliuz purchased Bitcoin for the first time in March after its board of directors approved using up to 10% of the company’s cash for Bitcoin, purchasing 45 BTC for about $4.1 million.
The amount of Bitcoin held on the books of publicly traded companies rose by 16.1% in the first quarter of 2025, according to Bitwise. Public companies bought around 95,431 Bitcoin over the quarter, increasing the total holdings across all company’s balance sheets to around 688,000.
Meliuz was among 12 firms that added Bitcoin to their balance sheets for the first time in Q1 2025, joining the likes of video-sharing platform Rumble.
Michael Saylor’s digital asset firm, Strategy, has also continued its long-term strategy of acquiring more Bitcoin with its most recent April 14 purchase consisting of 3,459 Bitcoin bought for $285.5 million.