Méliuz Allocates 10% of Cash Reserves to Bitcoin for Long-Term Gains

Brazilian fintech Méliuz has decided to allocate 10% of its cash reserves into Bitcoin, investing approximately $4.1 million for long-term gains. The company, which serves over 30 million users, aims to potentially adopt Bitcoin as a primary strategy asset.

Méliuz, a prominent Brazilian fintech firm, has approved a strategic initiative to allocate 10% of its cash reserves to Bitcoin (BTC). This decision aligns with the company’s goal to achieve long-term financial gains and reflects a growing trend among financial institutions toward cryptocurrency investments. As part of this strategy, Méliuz has already acquired 45.72 BTC, totaling approximately $4.1 million, with an average purchase price of $90,926 per Bitcoin.

Serving over 30 million users in Brazil, Méliuz is recognized for its cashback and financial services platform. The company is contemplating the possibility of further expanding its treasury strategy, which may include adopting Bitcoin as a primary asset. Additionally, there is potential exploration into ways to enhance shareholder value by generating further Bitcoin assets.

Francisco Rodrigues, a seasoned reporter with expertise in cryptocurrencies and personal finance, has reported on this development. Rodrigues has a background in major financial and crypto publications and has personal holdings in Bitcoin and other cryptocurrencies exceeding CoinDesk’s disclosure threshold.

In summary, Méliuz is pioneering a significant shift in its financial strategy by investing a portion of its cash reserves into Bitcoin. This decision signifies its commitment to achieving long-term investment returns, reflecting a broader trend in fintech towards cryptocurrency adoption. The firm’s future strategies may further emphasize Bitcoin, potentially enhancing shareholder value and solidifying its position in the Brazilian market.

Original Source: www.coindesk.com