Brazilian fintech giant Méliuz has taken a significant step into cryptocurrencies by officially incorporating Bitcoin (BTC) into its treasury strategy. In a bold move, the company has committed to allocating up to 10% of its cash reserves to Bitcoin, aligning with the trend of traditional financial institutions diversifying into digital assets.
As part of its new treasury management approach, Méliuz has already completed its first purchase, acquiring 45.72 BTC, which is worth approximately $4.1 million at an average price of $90,296 per Bitcoin. This marks the first major entry of the fintech unicorn into the crypto market, and the company has made it clear that this is just the beginning. With this strategy, Méliuz aims to achieve long-term returns, positioning Bitcoin as a key asset in its portfolio.
In order to oversee the integration of Bitcoin into its treasury, Méliuz has established the Bitcoin Strategic Committee. This group will be responsible for monitoring the evolving strategy, guiding purchasing decisions, and ensuring that the strategy remains aligned with the company’s broader financial goals. The committee will also explore the possibility of making Bitcoin a central component of the company’s treasury, including the potential to increase its holdings in the future.
Embracing Bitcoin Amid Global Trends
Méliuz, which serves over 30 million users in Brazil, is not only aiming to hold Bitcoin as a store of value but is also exploring ways to integrate it more deeply into its financial strategy. The company is looking at options to generate additional Bitcoin for shareholders, which could position it as a pioneer in crypto adoption within the fintech space.
This decision to add Bitcoin to its balance sheet follows in the footsteps of other major corporate players, including Michael Saylor’s MicroStrategy and Japan’s Metaplanet. These companies have seen Bitcoin as more than just a speculative asset, incorporating it into their long-term investment strategies. By following suit, Méliuz is positioning itself as part of a growing movement in TradFi, where Bitcoin is being recognized as a key tool for portfolio diversification and wealth preservation.
Méliuz is not blind to the risks inherent in holding Bitcoin, especially considering the cryptocurrency’s notorious volatility and the ongoing regulatory challenges it faces globally. In its “Creating Value for Shareholders Through Bitcoin” report, the company acknowledged these concerns, recognizing that Bitcoin’s price fluctuations could pose risks to its treasury strategy. To address these issues, Méliuz has set up a dedicated Bitcoin Strategic Committee to closely monitor its Bitcoin holdings and make adjustments as necessary to manage any risks.
Méliuz’s Bitcoin adoption strategy also comes amid growing scrutiny over cryptocurrency regulations in Brazil. Recently, Brazil’s central bank concluded a public consultation regarding a proposal to ban stablecoin transfers to self-custodial wallets, a move that could have wider implications for the market. Despite these challenges, Brazil remains a major player in the crypto space, with stablecoin transactions making up 60% of the country’s crypto market, according to Chainalysis.
Quick Facts:
- Méliuz has committed to allocating up to 10% of its cash reserves to Bitcoin as part of its new treasury strategy.
- The company has already invested in 45.72 BTC, worth about $4.1 million.
- Méliuz plans to hold Bitcoin for long-term returns and explore ways to generate additional BTC for shareholders.
