Brazil fintech gets approval to become a Bitcoin treasury company 🇧🇷
Brazil's Melíuz has become the country's first publicly-traded Bitcoin treasury company after receiving shareholder approval. The firm announced its acquisition of $28.4 million worth of Bitcoin, adding to its existing holdings.
Melíuz's executive chairman, Israel Salmen, celebrated the transformation on social media, highlighting the company's strategy to maximize Bitcoin per share. The fintech firm's stock has surged over 117% since its initial Bitcoin purchase in March.
The company's market cap stands at more than $128 million, and it thrives on its cashback program, serving over 30 million users across Brazil.
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