{"id":129362,"date":"2025-05-16T03:23:37","date_gmt":"2025-05-16T03:23:37","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129362"},"modified":"2025-05-16T03:23:37","modified_gmt":"2025-05-16T03:23:37","slug":"brazil-fintech-gets-approval-to-become-a-bitcoin-treasury-company","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129362","title":{"rendered":"Brazil fintech gets approval to become a Bitcoin treasury company"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsM\u00e9liuz\u2019s executive chairman says his fintech firm has become Brazil\u2019s 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.<br \/>\n\u201cHistoric day! Our shareholders have approved, by a wide majority, the transformation of M\u00e9liuz into the first Bitcoin Treasury Company listed in Brazil,\u201d Israel Salmen posted to X on May 15.<br \/>\nSalmen said the firm snapped up 274.52 Bitcoin (BTC) for an average purchase price of $103,604, achieving a BTC yield of 600%.\u00a0<br \/>\nM\u00e9liuz now holds 320.3 Bitcoin, worth a little over $33 million, with the latest purchase adding to the Brazilian fintech firm\u2019s first purchase of 45.73 Bitcoin on March 6.<br \/>\nDetails of M\u00e9liuz\u2019s latest Bitcoin purchase. Source: Israel SalmenIn a May 15 statement, M\u00e9liuz said it would accumulate Bitcoin in an \u201caccretive way\u201d for shareholders using a range of financial instruments.<br \/>\n\u201cRather 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.\u201d<br \/>\nAccording to Salmen, M\u00e9liuz is the first Bitcoin treasury company in Latin America because the planned Bitcoin investments are now part of its \u201cbusiness strategy.\u201d<br \/>\nBitcoinTreasuries.NET data shows that e-commerce platform MercadoLibre holds more, with over 570 Bitcoin, worth $59.2 million, after its latest purchase of 157.7 Bitcoin on March 31.<br \/>\nM\u00e9liuz has been one of Brazil\u2019s top-performing stocks of late<br \/>\nM\u00e9liuz (CASH3.SA) has been one of the best-performing stocks on the Brasil Bolsa Balc\u00e3o since the firm announced its first Bitcoin purchase on March 6, increasing more than 117% since then, according to Google Finance data.<br \/>\nM\u00e9liuz\u2019s market cap now sits at 727.9 Brazilian real, or more than $128 million.<br \/>\nRelated: \u2018The world is trying to hoard Bitcoin right now\u2019 \u2014 Eric Trump<br \/>\nThe fintech firm is well-known for its cashback program and serves over 30 million users across Brazil.<br \/>\nSource: Israel SalmenMagazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee<a href=\"https:\/\/cointelegraph.com\/news\/meliuz-becomes-brazils-first-bitcoin-treasury-company-after-shareholder-approval?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsM\u00e9liuz\u2019s executive chairman says his fintech firm has become Brazil\u2019s first publicly-traded Bitcoin treasury company following shareholder approval, with the firm also announcing it bought $28.4 million worth&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129362"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129362"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129362\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129362"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}