Meliuz Begins Purchasing Bitcoin as Part of Treasury Strategy

Brazilian fintech unicorn Meliuz announced on March 6 that it has started purchasing Bitcoin as part of its new treasury management strategy, joining the growing trend of traditional financial companies holding cryptocurrency assets.

The company, which provides cashback and financial technology services, revealed its entry into the cryptocurrency market, with its board of directors approving the accumulation of up to 10% of the company’s cash in Bitcoin (BTC).

Company Aims for Long-Term Returns with Bitcoin Treasury Strategy

According to reports, Meliuz made its first Bitcoin purchase, acquiring 45.72 BTC for approximately $4.1 million at an average price of $90,296 per BTC.

The report also mentioned that Meliuz is targeting long-term returns on its assets with this Bitcoin treasury strategy.

The company further announced the creation of a Bitcoin Strategic Committee, which will be responsible for analyzing and expanding the strategy, as well as overseeing purchase operations and related guidelines.

Additionally, the board will conduct a detailed analysis on whether to expand the Bitcoin strategy and consider adopting Bitcoin as the primary strategic asset for the company’s treasury.

Meliuz stated that its management believes the Bitcoin reserve-focused treasury strategy holds significant potential for maximizing value for the company and its shareholders.

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The post Meliuz Adopts Bitcoin Treasury Strategy, Entering the Crypto Market appeared first on Coin Engineer.