Méliuz Becomes First Publicly Traded Firm in Brazil to Adopt Bitcoin as Treasury Asset
Brazilian fintech company Méliuz has made history by becoming the first publicly traded firm in Brazil and Latin America to adopt Bitcoin as a treasury asset following shareholder approval. The cashback-focused firm, which serves over 30 million users, officially changed its corporate purpose to include Bitcoin investments as part of its business strategy. The move was approved by a wide majority at an extraordinary general meeting held on May 15.
As part of this strategic shift, Méliuz acquired 274.52 Bitcoin for approximately $28.4 million at an average price of $103,604. This latest purchase adds to the firm’s initial acquisition of 45.73 BTC in March, bringing its total Bitcoin holdings to 320.25 BTC, valued at over $33 million based on current prices.
Méliuz’s main mission as a Bitcoin Treasury Company is to accumulate Bitcoin in an accretive way for shareholders, using its cash generation and corporate and capital market structures to increase exposure to the asset over time. Instead of treating Bitcoin as a mere hedge, the company aims to maximize “the amount of Bitcoin per share,” aligning its capital strategy around long-term BTC exposure.
Executive chairman Israel Salmen described the day as historic, announcing that Méliuz had officially become the first Bitcoin Treasury Company listed in Brazil. He also highlighted that the firm’s BTC holdings now carry a yield of 600% when factoring in its March purchase.
Market Performance and Global Trends
Since its initial Bitcoin purchase on March 6, Méliuz has seen its stock price soar over 117%, making it one of the best-performing stocks on the Brasil Bolsa Balcão. The company has joined a growing list of public companies worldwide that are pivoting to Bitcoin-centric balance sheets, following the lead of Michael Saylor-led MicroStrategy, which pioneered the treasury strategy in 2020.
Recent examples include Bahrain’s Al Abraaj Group, which became the first listed company in the Middle East to adopt Bitcoin as a treasury asset with a modest 5 BTC purchase. In the U.S., David Bailey’s Bitcoin-native holding company, Nakamoto, went public via a merger with KindlyMD, raising $710 million to launch a “Bitcoin conglomerate.”
These developments signify a broader trend of companies embracing Bitcoin as a strategic asset and highlight the growing interest in cryptocurrency within the corporate world.