In a bold move signalling deeper institutional adoption of Bitcoin in Latin America, Brazilian fintech firm Méliuz has officially transformed into the country’s first publicly traded Bitcoin treasury company.
The announcement came after shareholders voted overwhelmingly in favour of the strategic shift on May 15. Executive chairman Israel Salmen shared the milestone on X, describing it as a “historic day” for the company.
Historic day! Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil.
And today, we took another step forward:
Acquired 274.52 BTC for US$ 28.4M
Average price: US$ 103,604
Achieving a BTC Yield of… pic.twitter.com/y12JlKwW6N— Israel Salmen (@IsraelSalmen) May 15, 2025
Alongside the structural change, Méliuz disclosed a fresh Bitcoin acquisition — 274.52 BTC worth approximately $28.4 million, purchased at an average price of $103,604. This latest buy brings the firm’s total Bitcoin holdings to 320.3 BTC, valued at just over $33 million.
Unlike companies that treat Bitcoin as a hedge against inflation or currency devaluation, Méliuz says it’s now integrating Bitcoin into its core corporate strategy.
“Rather than just allocating part of its cash to Bitcoin as a hedge against inflation or currency devaluation”,
the May 15 statement noted,
“the Company has repositioned its purpose to act by maximizing the amount of Bitcoin per share.”
Salmen emphasized that this move positions Méliuz as the first Bitcoin treasury firm in Latin America to embed BTC accumulation into its business model officially. Despite MercadoLibre holding a larger Bitcoin reserve — 570 BTC as of March 31, according to BitcoinTreasuries.NET data, Méliuz distinguishes itself by making Bitcoin central to its strategy rather than a supplementary asset.
According to Google Finance, since Méliuz’s initial Bitcoin purchase of 45.73 BTC on March 6, its stock (CASH3.SA) has surged over 117% on the Brasil Bolsa Balcão. The company’s market capitalization now exceeds 727.9 million Brazilian real (approximately $128 million).
Founded as a cashback service provider, Méliuz has grown its user base to over 30 million across Brazil. Its pivot into Bitcoin is drawing investor attention and placing it at the forefront of fintech innovation in the region.
Notably, Gabriel Galipolo, the country’s central bank chief, noted that Brazil has witnessed a significant surge in cryptocurrency adoption due to stablecoins now driving nearly 90% of digital asset transactions.
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