Brazilian Fintech Meliuz Unveils Bitcoin Reserve Strategy

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Meliuz, a Brazilian Fintech Company, has made a notable shift in diversifying its investments to feature Bitcoin. In a significant decision, Meliuz gave the nod to a new treasury strategy that would allow the company to set aside resources for Bitcoin (BTC) acquisition.

Bitcoin as a Treasury Asset

According to the report, Meliuz has decided to seek long-term returns via Bitcoin. Hence, it will allow up to 10% of its cash to be invested in Bitcoin. Already, the company has made a significant purchase of 45.72 BTC for $4.1 million.

The initial 10% commitment from Meliuz could be increased to a higher percentage in the future. Notably, Meliuz’s board has called for a detailed analysis of this newly adopted approach and its profitability for the fintech firm.

Analysts say Meliuz’s decision to adopt BTC as their treasury’s strategic asset indicates the growing institutional interest in BTC. The uptick from institutional players has increased following the announcement of a U.S. Strategic Crypto Reserve.

A Strategic Bet on the Future of Bitcoin

Given Brazil’s crypto-friendly atmosphere, there are speculations of possible digital expansion. This might involve the establishment of a Central Bank Digital Currency (CBDC), which could signal increased cryptocurrency adoption in the country.

Hence, experts have opined that Meliuz’s move to invest 10% of its funds in Bitcoin is strategic and preempts the future. Perhaps, after the “detailed analysis” of this new approach, Meliuz might decide to up its stake in Bitcoin investment.

Brazil’s Crypto-Friendly Landscape

Interestingly, Brazil is very crypto-friendly. The Comissão de Valores Mobiliários (CVM), Brazil’s securities regulator, has approved exchange-traded funds on many assets like BTC, Ethereum, and XRP. This is to allow for institutional participation.

South American countries are the first to approve a spot XRP ETF. With the approval from the CVM, the Hashdex Nasdaq XRP Index Fund is set for listing on Brazil’s B3 stock exchange.

Hashdex is a leading name in asset management in the country’s crypto sector. It offers several ETF products linked to Bitcoin, Ethereum, Solana Web3, and the Metaverse.

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