Méliuz Makes History as Brazil’s First Public Company to Hold $28.4M Bitcoin Treasury

On May 15, 2025, Brazilian fintech company Méliuz made headlines by becoming the first publicly traded company in Brazil to adopt Bitcoin as a treasury asset, following the purchase of $28.4 million worth of the cryptocurrency. The move, overwhelmingly approved by shareholders, positions Méliuz as a pioneer in Latin America’s corporate adoption of digital assets and signals a growing acceptance of Bitcoin as a strategic financial instrument.

A Landmark Bitcoin Purchase

Méliuz, a São Paulo-based fintech known for its cashback and financial services platform, acquired 274.52 Bitcoin at an average price of $103,604 per coin, bringing its total holdings to 320.3 Bitcoin, valued at approximately $33 million. This follows an earlier purchase of 45.73 Bitcoin for $4.1 million in March 2025, marking a deliberate strategy to accumulate Bitcoin as a core treasury asset.

The decision was formalized at a shareholder meeting on May 15, where a significant majority endorsed Méliuz’s transformation into a “Bitcoin Treasury Company.” Israel Salmen, Méliuz’s executive chairman and largest shareholder, announced the milestone on X, stating, “Historic day! Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil.” Salmen highlighted the purchase’s impressive 600% Bitcoin yield, reflecting the firm’s confidence in the asset’s long-term value.

In a company statement, Méliuz outlined its strategy to maximize Bitcoin per share through accretive accumulation, using a mix of operating cash flow, financial instruments, and strategic initiatives. “Rather than just allocating part of its cash to Bitcoin as a hedge against inflation or currency devaluation, the Company has repositioned its purpose to act by maximizing the amount of Bitcoin per share,” the statement read.

Market Impact and Strategic Vision

The acquisition of Bitcoin has already had a tangible impact on Méliuz’s market performance. Following its initial Bitcoin purchase in March, the company’s stock (CASH3) surged over 16.36% on March 6, rising from 3.3 Brazilian reals ($0.58) to 3.84 Brazilian reals ($0.68) on the Brazilian Stock Exchange. Since then, Méliuz’s stock price has climbed 116% to $1.47 from $0.68, reflecting strong investor enthusiasm for its Bitcoin strategy.

Méliuz’s market capitalization now stands at 728 million Brazilian reals (approximately $128 million), a notable achievement for a company that had previously struggled with declining stock relevance and low trading volume. Salmen, in an interview with Brazil Journal, acknowledged these challenges, noting that Bitcoin offers “a more intelligent alternative” to traditional fixed-income investments, which he argued incur significant opportunity costs.

The company draws inspiration from global firms like MicroStrategy, the largest corporate Bitcoin holder, and Japan’s Metaplanet, both of which have integrated Bitcoin into their treasury strategies to pursue long-term returns. Méliuz’s approach aligns with Brazil’s vibrant crypto market, which saw over $200 billion in trading volume last year, outpacing the country’s benchmark interest rate of 14.75%.

Before Méliuz announced its Bitcoin acquisition, its stock closed at 8.35 Brazilian reais on May 15. With the company’s formal shift to a Bitcoin accumulation strategy and significant purchase, its market performance on May 16 is highly anticipated.

Industry Context and Risks

Méliuz’s move comes at a time of increasing corporate interest in Bitcoin as a treasury asset, particularly in fintech and technology sectors. Globally, companies like Nvidia have reportedly considered similar strategies, though Méliuz is the first in Brazil to execute such a plan. The decision reflects a broader trend of firms viewing Bitcoin as a hedge against inflation and currency volatility, especially in markets like Brazil, where economic uncertainty has historically driven interest in alternative assets.

However, the strategy is not without risks. Méliuz has acknowledged Bitcoin’s volatility and potential regulatory challenges, particularly as Brazil’s central bank recently concluded a public consultation on February 28, 2025, exploring restrictions on stablecoin transfers to self-custodied wallets. To address these concerns, Méliuz established a Bitcoin Strategy Committee to monitor market and regulatory developments, according to its official statement.

Looking ahead, Méliuz aims to continue accumulating Bitcoin while navigating Brazil’s evolving regulatory landscape. The company’s leadership sees Bitcoin not only as a financial asset but as a cornerstone of its business strategy, positioning Méliuz as a fintech innovator in one of Latin America’s largest markets. As global and regional interest in digital assets grows, Méliuz’s bold move could set a precedent for other publicly traded companies in the region.