Brazilian Fintech Méliuz Allocates 10% of Cash Reserves to Bitcoin…

Brazilian fintech Méliuz has approved a new strategy to invest 10% of its cash reserves in Bitcoin. The firm purchased 45.72 BTC for approximately $4.1 million as part of its long-term investment approach. Serving over 30 million users, Méliuz is also considering further integration of Bitcoin into its treasury management.

Méliuz, a Brazilian fintech company, has announced its decision to allocate 10% of its cash reserves to Bitcoin (BTC) as part of a new treasury strategy. This allocation, which was approved by the Board of Directors, aims to achieve long-term investment returns by leveraging the growing cryptocurrency market.

As a preliminary step, Méliuz has already invested approximately $4.1 million to purchase 45.72 BTC at an average price of $90,926 per Bitcoin. The decision reflects the firm’s confidence in Bitcoin’s potential for growth and its desire to diversify its asset portfolio.

Méliuz, which has built a reputation for its cashback and financial services platform, boasts a user base of over 30 million in Brazil. The company is also considering expanding its treasury strategy further by potentially adopting Bitcoin as its core strategic asset and exploring methods to generate additional Bitcoin for its shareholders.

In summary, Brazilian fintech Méliuz has committed to investing a significant portion of its cash reserves in Bitcoin, reflecting its strategic shift toward cryptocurrency investments. With an initial purchase of 45.72 BTC, the firm aims to enhance long-term shareholder value and explore additional growth opportunities within the crypto market.

Original Source: www.coindesk.com