Brazil’s first public Bitcoin treasury firm emerges: Is Méliuz the next Strategy?

• Méluz becomes the first publicly traded company in Brazil to accept the Bitcoins strategy.
• BTC Holdings has risen to 320.3, which increases the stock price by 116% since March.

Brazilian Fintech Méluz made a bold step into the crypto space by accepting and Bitcoin [BTC] Strategy of the Ministry of Finance, which became the first publicly traded company in the country.

Brazilian Méluz accepts the Bitcoin cash register strategy

After the approval of shareholders, the company confirmed the purchase of 274.52 BTC, worth approximately $ 28.4 million to move its existing bitcoin shares.

The same remarks, Executive chairman Israel Salmen he took to xa noted,

“Historical Day! Our shareholders approved a wide majority of the transformation of Méluzu to the first bitcoin treasury company listed in Brazil.”

For context, Méluz has received his bitcoin hold at an average price of $ 103604, Which brought them 600% return on the initial crypto strategy of the company.

With this latest acquisition, Méluz was a total bitcoin cash register of 320.3 BTC, worth just over $ 33 million, building 45.73 BTCs on 6 March.

The Company also provides more information added,

“The main mission of Bitcoin Treasury Company is to accumulate bitcoins for shareholders in an accitative way, to use your cash generation and the corporate and capital market structure to increase the asset exposure over time.”

The impact is Méluz

Since the start of its Bitcoin Treasury strategy at the beginning of March, Méluz has recorded the stock price by 116%and climbed from 0.68 to $ 1.47.

These price gatherings reflect trends that are observed in early adoptors, such as Microstrategs and Metaplanet, whose stocks have similarly increased after the accumulation of bitcoins.

As already mentioned, Salmen further emphasized that the purchases of Méluz Bitcoin are now built into its main business strategy and have been placed as the first publicly mentioned treasury at the Bitcoin box office in Latin America.

Therefore, while Méluz gets traction, regional competitor Mercadolibre still hold A larger reserve, 570 BTC worth $ 59.2 million, after 31 March added 157.7 BTC to its Treasury.

Other nations increase their adoption of crypt

This emphasizes that the global crypt race is intensified, and nations increase when the US accelerates its efforts to establish dominance.

New York City, under the leadership of the pro-crepto mayor Eric Adams, is actively He tries to get back his position of the front center of the digital asset.

Meanwhile has Switzerland entered The reflector by considering the integration of bitcoins into his national reserves.

This development comes when bitcoins trade for $ 103,611,21, which is 1.33% in the last 24 hours by Coinmarketcap.

Since bull technical indicators strengthen upwards, it is clear that global competition supports renewed confidence in the crypto market.