Brazilian Company Méliuz Establishes Bitcoin Reserve

[Suba]

After shareholders approved by majority vote, Méliuz became the first public company in Brazil to hold Bitcoin as a financial reserve.

Méliuz also announced their initial Bitcoin purchase of 274.52 BTC or US$28.4 million and until now the institution has 320.2 BTC, with an average acquisition price of US$101,700. According to Méliuz's chairman, Israel Salmen, holding BTC as a financial reserve is a very historic moment and now Méliuz's company is at the forefront of Brazilian financial innovation.

 

[magnus2022]

That's impressive! But the company suppose to buy when the price is around 70k. Buying bitcoin at that price is a bit out of orderm it seems there is is one or two deals contracted at the backdoor.

 

[Suba]

That's impressive! But the company suppose to buy when the price is around 70k. Buying bitcoin at that price is a bit out of orderm it seems there is is one or two deals contracted at the backdoor.

You are right, why didn't they buy Bitcoin when the price was cheap under $80k. but Méliuz bought BTC after the price was above $100k, maybe at that time the shareholders didn't approve it.

 

[magnus2022]

You are right, why didn't they buy Bitcoin when the price was cheap under $80k. but Méliuz bought BTC after the price was above $100k, maybe at that time the shareholders didn't approve it.

Maybe! The shareholder have not reached a consensus! You may be right!

 

[King Belieal]

This is a resounding development for bitcoin and crypto enthusiasts in Brazil. Would push the popularity of bitcoin in the country.