Méliuz, a Brazilian fintech, will allocate 10% of its cash reserves to Bitcoin, having already purchased $4.1 million worth (45.72 BTC). This decision, supported by the board, aims for long-term investment returns. The firm serves over 30 million users and is considering further integrating Bitcoin into its financial strategies.
Brazilian fintech Méliuz has announced a strategic decision to invest a portion of its cash reserves into Bitcoin (BTC), allocating up to 10% for long-term financial growth. This move was formally approved by the company’s board of directors and is documented in a recent securities filing. Currently, Méliuz has acquired 45.72 BTC, totaling about $4.1 million at an average price of $90,926 per bitcoin.
Méliuz, which provides cashback services and financial solutions, has a substantial user base, boasting over 30 million registered users in Brazil. The company is actively exploring enhancements to its treasury strategy, contemplating the option of making Bitcoin a central asset in its portfolio. Additionally, they are looking into potential methods to generate extra Bitcoin for its shareholders.
Méliuz’s allocation of 10% of its cash reserves to Bitcoin marks a significant shift towards embracing cryptocurrency for liquid assets. With the initial purchase of 45.72 BTC, the firm aims to pursue long-term investment strategies that could yield considerable returns. As the company continues evaluating Bitcoin’s role within its treasury, it reinforces the growing acceptance of digital currencies in traditional financial frameworks.
Original Source: www.coindesk.com
