Source: Cointelegraph
Original text: ( Brazilian fintech company Méliuz approved to become a bitcoin (BTC) reserve company )
On May 15, shareholders of the Brazilian fintech company Méliuz officially approved a bitcoin reserve proposal, and the company also announced it became the first publicly listed bitcoin reserve company in Brazil, adding $28.4 million worth of bitcoins (BTC) to its existing reserves.
Méliuz's Executive Chairman Israel Salmen stated in a post on X on May 15: "A historic day! Our shareholders overwhelmingly approved Méliuz's transformation into Brazil's first publicly listed bitcoin reserve company."
Salmen stated that the company purchased 274.52 bitcoins (BTC) at an average purchase price of $103,604, achieving a 600% BTC return.
Currently, Méliuz holds 320.3 bitcoins, valued at just over $33 million, and this purchase is an addition following the initial purchase of 45.73 bitcoins on March 6.
In a statement on May 15, Méliuz announced it would accumulate bitcoin in a way that adds value to shareholders, using a range of financial tools.
"The company is not just allocating part of its cash to bitcoin as a hedge against inflation or currency devaluation, but is repositioning its goals by maximizing the number of bitcoins per share."
According to Salmen, Méliuz is the first bitcoin reserve company in Latin America, as the planned bitcoin investment has now become part of its "business strategy."
According to BitcoinTreasuries.NET, the e-commerce platform MercadoLibre holds more bitcoins, over 570, valued at $5.92 million, with its latest purchase occurring on March 31, acquiring 157.7 bitcoins.
Since announcing its first bitcoin purchase on March 6, Méliuz (CASH3.SA) has been one of the best-performing stocks on the Brazilian Stock Exchange (Brasil Bolsa Balcão), with its share price having increased by more than 117% since then, according to Google Finance data.
Méliuz's market capitalization is currently R$727.9 million, equivalent to over $12.8 million.
This fintech company is known for its cashback program, serving over 30 million users in Brazil.
Related news: The Wisconsin Investment Board sold its bitcoin (BTC) ETF holdings.
