Brazilian fintech company Méliuz spends $28 million on Bitcoin, becoming the first listed company in South America to establish a Bitcoin reserve

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MarsBit
05-17
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Mars Finance News: According to Decrypt, the Brazilian listed company Méliuz recently announced an investment of $28.4 million to purchase 274.52 bitcoins, with an average purchase price of $101,703 per bitcoin. This move makes it the first listed company in South America to establish a bitcoin reserve, and the company's stock price rose 26% on the day the news was announced. The cash-back platform listed on the Brazilian stock exchange stated that this investment aims to create higher returns for shareholders by increasing bitcoin holdings per share. Industry analysts point out that the company is emulating the bitcoin investment strategy of Strategy (formerly MicroStrategy) to cope with operational pressures in Brazil's high-interest-rate environment. As the largest economy in Latin America, Brazil's digital asset market is developing rapidly, currently having the most cryptocurrency ETFs in the region. Market observers believe that listed companies allocating bitcoin assets is gradually becoming a global trend, but whether such strategic transformations can sustainably create value remains to be verified over time.

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