Brazilian fintech Méliuz will invest 10% of its cash reserves in Bitcoin as part of a long-term treasury strategy. The company has already purchased 45.72 BTC for approximately $4.1 million, serving over 30 million users in Brazil.
Méliuz, a Brazilian financial technology company, has instituted a new treasury strategy that enables the allocation of up to 10% of its cash reserves to Bitcoin (BTC). As part of this strategy, the company has already acquired 45.72 BTC, totaling approximately $4.1 million, with an average purchase price of $90,926 per bitcoin. This initiative is aimed at achieving long-term returns on the investment.
Serving over 30 million users in Brazil, Méliuz is recognized for its cashback and financial services platform. The board of directors approved this investment plan, reflecting the company’s commitment to enhancing its financial strategies. Furthermore, Méliuz is actively considering the possibility of adopting Bitcoin as a primary asset within its investment portfolio to generate additional returns for shareholders.
This decision by Méliuz is indicative of a growing trend among companies seeking to diversify their asset holdings through cryptocurrencies. By investing in Bitcoin, the firm aims to leverage potential growth opportunities in the digital currency landscape while also adapting to the evolving financial environment.
In conclusion, Brazilian fintech Méliuz’s recent decision to allocate 10% of its cash reserves to Bitcoin signifies a strategic shift towards embracing cryptocurrency for long-term financial growth. With an initial investment of $4.1 million in Bitcoin, the company positions itself to capitalize on the potential benefits of digital assets, reflecting broader trends in the financial sector.
Original Source: www.coindesk.com
