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.
The report said that with its Bitcoin treasury strategy, Meliuz is seeking long-term returns on the asset.
Meliuz embraces Bitcoin treasury strategy
According to Visno, Meliuz also announced the creation of the Bitcoin Strategic Committee, which will conduct analysis to expand the strategy and be responsible for purchasing operations and related guidelines.
Additionally, the executive board will reportedly conduct a detailed analysis on whether to expand the Bitcoin strategy, including the possibility of adopting Bitcoin as the main strategic asset of the company’s treasury.
“The company’s management believes that the treasury strategy focused on the Bitcoin reserve has significant potential for maximizing value for the company and its shareholders,” Meliuz reportedly said.
Bitcoin advocate Guilherme Bandeir joins Meliuz board
The news on Meliuz’s Bitcoin strategy comes shortly after it announced changes to its board of directors on March 3, with Guilherme Bandeira — a major local Bitcoin advocate — joining the board.
“Together 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,” Bandeira wrote in his Substack blog.
An excerpt from the Meliuz Bitcoin strategy announcement by Bitcoiner and new board member Guilherme Bandeira. Source: Substack
“After all, if Bitcoin is an excellent alternative to the US dollar, it is an even better alternative to the Brazilian real,” Bandeira noted.
Meliuz doesn’t 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 Saylor’s Strategy and Japanese Metaplanet.
While acknowledging the promises of Bitcoin accumulation, Meliuz does not ignore potential risks arising from such investments.
According to a local report by the financial data platform InfoMoney, 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 report notes.
The news comes shortly after Brazil’s 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 country’s stablecoin transaction volumes accounting for 60% of its crypto market.
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