Brazilian fintech company Méliuz has invested $28 million in Bitcoin, becoming the first publicly traded company in South America to establish a Bitcoin reserve
ChainCatcher news, according to Decrypt, Brazilian publicly traded company Méliuz recently announced an investment of $28.4 million to purchase 274.52 bitcoins, with an average purchase price of $101,703 per coin. This move makes it the first publicly traded company in South America to establish a bitcoin reserve, and after the announcement, the company's stock price surged by 26% in a single day.The cash-back platform listed on the Brazilian stock exchange stated that this investment aims to create higher returns for shareholders by increasing the bitcoin holdings per share. Industry analysts pointed out that the company is emulating the bitcoin investment strategy of the American company Strategy (formerly MicroStrategy) to cope with the 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 hosting the highest number of cryptocurrency ETFs in the region. Market observers believe that the allocation of bitcoin assets by publicly traded companies is gradually becoming a global trend, but whether such strategic transformations can continue to create value remains to be seen over time.
