Méliuz’s executive chairman says his fintech firm has become Brazil’s first publicly-traded Bitcoin treasury company following shareholder approval, with the firm also announcing it bought $28.4 million worth of Bitcoin to add to its existing stack.
“Historic day! Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil,” Israel Salmen posted X is May 15,
Salmen claimed that the company purchased 274.52 Bitcoins (BTC() at an average cost of $103,604 resulting in a BTC profit of 600%
Méliuz now holds 320.3 Bitcoin, worth a little over $33 million, with the latest purchase adding to the Brazilian fintech firm’s first purchase of 45.73 Bitcoin On March 6,
In a May 15 statement, Méliuz said Bitcoins would be accumulated in an “accretive way” For shareholders, a wide range of financial tools are available.
“Rather than just allocating part of its cash to Bitcoin as a hedge against inflation or currency devaluation, the Company has repositioned its purpose to act by maximizing the amount of Bitcoin per share.”
According to Salmen, Méliuz is the first Bitcoin treasury company Bitcoin is now a part of the Latin American investment plans “business strategy.”
BitcoinTreasuries.NET data MercadoLibre, an e-commerce site, has more than 570 Bitcoins, valued at $59.2 Million, following its most recent purchase of 157.7 Bitcoins on March 31, 2018.
Méliuz has been one of Brazil’s top-performing stocks of late
Méliuz (CASH3.SA) has been one of the best-performing stocks The newest way to get the best of your day Brasil Bolsa Balcão Google Finance reports that since March 6, when the company announced its initial Bitcoin purchase, it has increased by more than 117%. data.
Méliuz’s market cap now sits at 727.9 Brazilian real, or more than $128 million.
Related: ‘The world is trying to hoard Bitcoin right now’ — Eric Trump
This fintech firm has a great reputation for its cashback program The service is used by over 30,000,000 users in Brazil.
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Source: cointelegraph.com
