Méliuz Purchases $28.4 Million in Bitcoin as Treasury Asset
Méliuz's Bitcoin Acquisition
- Méliuz, a Brazilian fintech, purchased $28.4 million in Bitcoin.
- This makes it the first publicly traded company in Brazil to hold Bitcoin as a treasury asset.
- The company acquired 274.52 BTC at an average price of $103,604, adding to its previous holdings of 45.73 BTC.
- Total Bitcoin holdings now stand at 320.2 BTC, valued over $33 million.
- Shareholder approval was strong for this transformation into a Bitcoin Treasury Company.
Market Context
- Bitcoin was trading around $104,000, close to its all-time high of $109,000 at the time of the announcement.
- Méliuz’s stock more than doubled following the news.
- Brazil ranks among the top 10 countries in crypto activity and seventh in terms of crypto transactions in 2023.
- The government is working on regulation, including new tax legislation that may impose up to a 15% tax on crypto earnings from international exchanges.