Brazilian Fintech Méliuz Approves 10% Cash Reserve Allocation to Bitcoin
Brazilian fintech Méliuz has implemented a treasury strategy permitting up to 10% of its cash reserves to be invested in bitcoin. This decision, approved by the board, aims for long-term returns.
- Méliuz has acquired 45.72 BTC for approximately $4.1 million, averaging $90,926 per bitcoin.
- The company serves over 30 million users in Brazil through its cashback and financial services platform.
- There are plans to expand this strategy to consider bitcoin as a primary asset and explore ways to generate additional bitcoin for shareholders.