Brazilian fintech Méliuz plans to allocate up to 10% of its cash reserves to Bitcoin, having purchased 45.72 BTC for $4.1 million. This investment strategy aims at long-term returns and reflects the company’s intent to innovate in cryptocurrency. Méliuz serves over 30 million users and is exploring further adoption of Bitcoin as a primary asset.
Méliuz, a Brazilian fintech company, has announced its decision to allocate up to 10% of its cash reserves towards Bitcoin (BTC) as a part of its long-term investment strategy. This decision came after the approval from the company’s board of directors and is intended to generate substantial long-term returns.
The fintech has already made a significant investment, having acquired 45.72 BTC, amounting to approximately $4.1 million at an average price of $90,926 each. This initiative is indicative of Méliuz’s commitment to incorporate Bitcoin into its financial strategy as it serves over 30 million users in Brazil.
Furthermore, Méliuz is considering an expansion of this treasury strategy, exploring the potential of adopting Bitcoin as a principal asset and investigating methods to enhance bitcoin generation for its shareholders.
Francisco Rodrigues, who covers this growing sector for CoinDesk, emphasizes that the fintech is taking assertive steps towards innovation in cryptocurrency investment, aligning itself with evolving market trends in digital assets.
In conclusion, Méliuz’s strategic decision to allocate a portion of its cash reserves to Bitcoin marks a significant move towards embracing cryptocurrency. By investing 10% of its reserves and already purchasing $4.1 million worth of Bitcoin, the fintech aims to secure long-term returns while also considering further integration of Bitcoin into its financial practices. This approach not only aligns with current market trends but also positions Méliuz as a forward-thinking player in the financial landscape.
Original Source: www.coindesk.com
