title: Brazilian fintech firm Méliuz buys the dip, becomes the first publicly traded company to hold Bitcoin as a treasury asset

Brazilian fintech firm Méliuz has announced a $28.4 million Bitcoin purchase, making it the first publicly traded company in Brazil to hold Bitcoin as a treasury asset.

Brazilian fintech firm Méliuz has announced a $28.4 million Bitcoin purchase, making it the first publicly traded company in the country to hold Bitcoin as a treasury asset.

The decision, which saw strong shareholder support, comes as institutions in Brazil are showing increasing interest in cryptocurrencies.

Méliuz, known for its cashback platform, previously disclosed a smaller March 6 purchase of 45.73 BTC. At the time, the company announced plans to transform into a Bitcoin treasury company, a move that has now been completed.

In a statement, Méliuz said it acquired 274.52 BTC at an average price of $103,604, bringing its total Bitcoin holdings to 320.2 BTC.

According to data from Glassnode, the company’s Bitcoin treasury is now worth over $33 million at current market prices.

“Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil. A historic day for our company and a milestone in the Brazilian crypto ecosystem,” the company said.

Méliuz also noted that its primary goal is to accumulate Bitcoin in a way that benefits shareholders.

“The company’s main mission is to accumulate Bitcoin in an accretive way for shareholders, using its cash generation and corporate and capital market structures to increase exposure to the asset over time.”

Bitcoin was trading around $104,000 at the time of the announcement, nearing its all-time high of $109,000. The news also resulted in a sharp rally in Méliuz’s own stock, which has now more than doubled in value.

Earlier this year, a U.S. court ruling recognized Bitcoin as a legal asset, paving the way for more institutional interest in the cryptocurrency.