Update (March 7, 3:15 pm UTC: This article has been updated to include an official statement on the Bitcoin strategy adoption by Meliuz.
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, has entered into the crypto market with its board of directors approving the accumulation of up to 10% of the companyâs cash in Bitcoin (BTC), the firm officially announced.
The firm 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, Meliuz said.
With its Bitcoin treasury strategy, the fintech firm is seeking long-term returns on the asset.
Meliuz embraces Bitcoin treasury strategy
According to the announcement, Meliuz has set up the Bitcoin Strategic Committee, which will conduct analysis to expand the strategy and be responsible for purchasing operations and related guidelines.
The executive board will additionally conduct a detailed analysis on whether to expand the Bitcoin strategy, including the possibility of adopting Bitcoin as the main strategic asset of the companyâs treasury.
An excerpt from Meliuzâs official Bitcoin strategy announcement. Source: Meliuz
âThe companyâs management believes that the treasury strategy focused on the Bitcoin reserve has important potential for maximizing value for the company and its shareholders,â the announcement notes.
Bitcoin advocate Guilherme Bandeir joins Meliuz board
The news on Meliuzâs Bitcoin strategy comes shortly after it announced changes to its board of directors on March 3, with Guilherme Bandeira â a major local Bitcoin advocate â joining the board.
âTogether with the entire company team, led by founder and chairman Israel Salmen, we will ensure that Meliuz takes full advantage of the pioneering role of adopting the best monetary technology that has ever existed in the history of humanity,â Bandeira wrote in his Substack blog.
An excerpt from the Meliuz Bitcoin strategy announcement by Bitcoiner and new board member Guilherme Bandeira. Source: Substack
âAfter all, if Bitcoin is an excellent alternative to the US dollar, it is an even better alternative to the Brazilian real,â Bandeira noted.
Meliuz doesnât ignore potential risks
The Bitcoin strategy adoption by Meliuz marks another milestone in the growing acceptance of BTC as a crucial investment tool in the global TradFi, following the lead of firms Michael Saylorâs Strategy and Japanese Metaplanet.
While acknowledging the promises of Bitcoin accumulation, Meliuz does not ignore potential risks arising from such investments.
Meliuzâs âCreating value for shareholders through Bitcoinâ report cited a chart with major corporate BTC holders. Source: Meliuz
In the accompanying announcement report called âCreating value for shareholders through Bitcoin,â Meliuz admits that Bitcoin investment is associated with risks like volatility and potential regulatory challenges.
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Addressing these issues will also be subject to monitoring and analysis by the Bitcoin Strategic Committee, the company said.
The news comes shortly after Brazilâs central bank finished a public consultation on the proposal to ban stablecoin transfers to self-custodial wallets on Feb. 28, 2025.
According to Chainalysis, Brazil was the second-largest market globally in terms of stablecoin transactions in 2024, with the countryâs stablecoin transaction volumes accounting for 60% of its crypto market.
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