Méliuz, a Brazil-based fintech firm, has become the first Bitcoin treasury company in the country, following the acquisition of $28.4 million worth of Bitcoin.
Israel Salmen, chairman of Méliuz, announced the acquisition on X, Friday, calling it a “historic day!” “Our shareholders have ap proved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil.”
“We now hodl 320.2 BTC at an average price of US$ 101,703.80,” Salmen wrote on X. The total worth of Méliuz’s Bitcoin stash is above $33 million, and the world’s largest crypto is trading at $104,012 at press time, per CoinMarketCap data.
The company grabbed 274.52 Bitcoin at an average price of $103,604, achieving a BTC yield of 600%.
“Rather than just allocating part of its cash to Bitcoin as a hedge against inflation or currency devaluation, the Company has repositioned its purpose to act by maximizing the amount of Bitcoin per share.”
In a separate press release, the company said that it first made a Bitcoin purchase in March this year. Additionally, Méliuz plans to “accumulate Bitcoin in an accretive way for shareholders.”
Formerly MicroStrategy, the Saylor-led investment giant currently owns 568,840 BTC, valued at around $59 billion. Saylor and his firm have been inspiring several companies and tech firms in the Bitcoin accumulation race.
Israel Salmen had met Strategy’s Michael Saylor early this month to celebrate Méliuz’s Bitcoin strategy journey. “Thank you for paving the way,” he wrote on X, posting pictures with Saylor.
The company is expected to hold over 42,000 Bitcoin at launch, making it the third-largest BTC treasury, after Strategy and Mara Holdings.
Over 70 companies have so far adopted some form of BTC treasury. Last month, crypto payments firm Strike founder Jack Mallers announced a new venture, Twenty One, backed by Tether and SoftBank Group.
Strategy analyst Jeff Walton said that the company holds “more of the best asset,” appreciating its unprecedented exposure to Bitcoin.