Brazilian fintech firm Méliuz has taken a significant step into corporate finance by gaining shareholder approval for a Bitcoin treasury strategy.
Méliuz Acquires 320.2 BTC in Treasury Move
Méliuz has embraced a Bitcoin treasury strategy, becoming the first public company in Brazil to implement such a strategy. The plan was supported by a majority of shareholders during the vote held on May 15. Under the leadership of Executive Chairman Israel Salmen, the firm focused on accumulating Bitcoin, currently holding 320.2 BTC purchased at an average price of $101,703.80.
Méliuz Stock Soars 14% After Bitcoin Announcement
The announcement of the treasury strategy resulted in a 14% increase in Méliuz's stock, indicating a high level of market confidence in this move. Both shareholders and analysts consider this innovation as a catalyst that could prompt other companies in Latin America to adopt similar strategies. Analysts predict that this pivot could lead to significant financial rewards, primarily funding future acquisitions through operational cash flow.
Latin America's Bitcoin Strategy Inspired by Global Leaders
Companies such as MicroStrategy and Marathon Digital Holdings have already implemented Bitcoin treasury strategies, paving the way for Latin American firms like Méliuz. Experts at Kanalcoin note that Méliuz's strategy could significantly impact the market, emphasizing that such treasury allocations align with long-term investments in cryptocurrency.
Méliuz makes a significant leap towards integrating Bitcoin into corporate finance, potentially influencing other companies in the region and reshaping approaches to cryptocurrency investments.
