Oranje, which is receiving advice from Itau BBA, Itau’s investment bank, aims to mimic the moves of Michael Saylor’s Strategy in Brazil and Latin America. The company was founded by crypto industry heavyweights Guilherme Gomes, formerly of Swan Bitcoin, and Guilherme Ferreira, president of Bahema.
Oranje Prepared to Acquire Over $200 Million in BTC, Following in Strategy’s Footsteps in Latin America
A new challenger in the institutional bitcoin arena is about to rise, based in Latin America. According to local media, Itau BBA, the investment bank of Itau, the largest banking corporation in Latam, is an advisor in the process that will give rise to Oranje, a company whose priority would be the accumulation of bitcoin as part of its treasury strategy.
The company, as the first of its kind in Latam, is linked to several industry heavyweights, including Guilherme Gomes, formerly of Swan Bitcoin, as founder and CEO, and Guilherme Ferreira, president of Bahema, as co-founder and CFO. Also, the initiative has the participation of bitcoin pioneer Fernando Ulrich and Josh Levine, formerly linked to Bridgewater.
One of the objectives behind this move is to take advantage of the relatively early stage of bitcoin adoption amongst institutions, which reaches only 3%. This market is poised to keep growing, given the turnaround in the regulatory elements surrounding bitcoin and the adoption of other Strategy copycats both in the U.S. and the world.
“The Bitcoin Standard is redefining corporate treasury strategy,” a company document pointed out, hinting at the issuance of debt to invest in bitcoin, as Strategy has done so successfully in the U.S.
Oranje would add to the current ETF options already open in the Brazilian market, providing tax and other benefits compared to putting funds in these other crypto proxy investment instruments.
Oranje projects offering a 45% yield in bitcoin for bitcoin investments in its first year of operation, seeking to accumulate $210 million worth of bitcoin in its early stages. From there, Oranje will focus on generating revenue through its already owned cryptocurrency assets, expanding its brand impact and awareness.
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