Historic Bitcoin Move from FinTech Company: Signed a Principle with a Large Purchase in the Country! - Koin Bulletin

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Brazilian fintech company Méliuz became the country’s first Bitcoin reserve company by purchasing 274.52 Bitcoin (BTC) with the strong support of its shareholders.

Brazil-based public fintech company Méliuz announced that it purchased a total of 274.52 Bitcoin (BTC) worth 28.4 million dollars at an average price of 103,604 dollars. This decision was accepted with the overwhelming majority support of the company’s shareholders. The company’s President Israel Salmen announced on his social media account that Méliuz is now Brazil’s first publicly traded Bitcoin Treasury company.

With this move, the company’s total Bitcoin holdings reached 320.2 BTC and its value at the current market price is approximately 33.3 million dollars. In a statement from the company, it was emphasized that the main goal of Bitcoin reserve companies is to increase Bitcoin accumulation over time for shareholders.

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Stocks rose by 116% with Bitcoin purchases.

Since Méliuz started purchasing Bitcoin for the first time on March 6, the company’s stock has shown a remarkable increase. According to Google Finance data, the company’s shares have risen from $0.68 after the first Bitcoin purchase to the current level of $1.47, gaining 116% in value. Similarly, companies that have adopted Bitcoin as a reserve asset, such as Strategy and Metaplanet, have also experienced significant increases in their stock prices.

Corporate crypto adoption is gaining momentum

More and more companies around the world are adopting diversification strategies by adding Bitcoin and other digital assets to their corporate reserves. Along with Brazilian Méliuz, the US-based consumer brand DDC Enterprise Ltd. also recently announced its plans to accumulate Bitcoin. The company aims to initially purchase 100 BTC, reaching a total of 500 BTC within 6 months, and ultimately targeting 5,000 BTC over 36 months.

Some companies are expanding their crypto strategies by adding alternative cryptocurrencies such as Ethereum and Solana to their reserves in addition to Bitcoin. Méliuz’s historic move is considered an important milestone in terms of institutional crypto adoption in Brazil.