Brazil fintech unicorn Meliuz adopts Bitcoin treasury strategy

Brazilian fintech unicorn Meliuz has reportedly purchased Bitcoin worth millions of dollars as part of its new treasury strategy to maximize long-term shareholder value.

Brazilian fintech unicorn Meliuz said on March 6 that it has begun purchasing Bitcoin as part of a new treasury management strategy, joining a growing trend of traditional finance companies holding cryptocurrency assets.

Meliuz, which provides cashback and financial technology services, announced 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), local news agency Visno Invest reported.

According to the report, Meliuz has already completed its first Bitcoin acquisition, purchasing 45.72 Bitcoin for about $4.1 million at an average price of $90,296 per BTC.

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