Méliuz Shakes Up Brazil's Financial Scene: Goes All-In on Bitcoin!

First Public Company in Latin America to Make Bitcoin Its Treasury Asset

Hold onto your hats, folks! Brazilian fintech giant Méliuz just rocked the financial world by becoming the first publicly traded company in Brazil and all of Latin America to dive headfirst into Bitcoin as a treasury asset. And get this – it's all thanks to a roaring approval from their shareholders!

On May 15, this cashback powerhouse, serving over 30 million users, dropped a bombshell. They've revamped their corporate mission to include Bitcoin investments as a core part of their game plan. And it wasn't just a close call – a massive majority gave the green light at an extraordinary general meeting earlier that day. Talk about making waves!

But wait, there's more! As part of this bold move, Méliuz snapped up 274.52 Bitcoin, shelling out a cool $28.4 million at an average price of $103,604. These guys aren't messing around!

This latest grab isn't their first rodeo. Back in March, they kicked things off with 45.73 BTC. Now, their total stash stands at a whopping 320.25 BTC, worth over $33 million at today's prices. Cha-ching!

“A Bitcoin Treasury Company’s main mission is to pile up Bitcoin in a way that's gold for shareholders, using our cash flow and corporate magic to boost our exposure to this beast over time,” Méliuz declared. They're not just dipping their toes; they're diving in!

Forget using Bitcoin as a mere safety net. Méliuz has flipped the script, aiming to crank up “the amount of Bitcoin per share” and sculpting their entire capital strategy around long-term BTC exposure. These guys are all in!

Israel Salmen, the executive chairman of Méliuz, called it a “historic day.” He proudly proclaimed that they've officially morphed into the “first Bitcoin Treasury Company listed in Brazil.” You can feel the excitement!

And the cherry on top? Their BTC stash is now pulling a mind-blowing 600% yield, factoring in their March 6 buy. Talk about a sweet deal!

Since that initial Bitcoin purchase on March 6, Méliuz's stock has skyrocketed over 117%, making it one of the hottest stocks on the Brasil Bolsa Balcão. Investors are loving this wild ride!

Méliuz isn't alone on this thrilling journey. They've joined a growing band of public companies worldwide that are flipping their balance sheets to focus on Bitcoin, many inspired by the trailblazing Michael Saylor and his MicroStrategy, who kicked off this treasury strategy back in 2020.

Just this week, Bahrain’s Al Abraaj Group made headlines as the first listed company in the Middle East to jump on the Bitcoin treasury bandwagon. They started with a modest 5 BTC purchase, but they're promising more as part of a long-term shift backed by 10X Capital. It's all about unlocking Bitcoin exposure for regional investors, they say.

And over in the U.S., David Bailey's Bitcoin-native holding company, Nakamoto, just went public via a merger with KindlyMD, raking in $710 million to launch what he's calling a “Bitcoin conglomerate.” The Bitcoin revolution is spreading like wildfire!