Méliuz, a Brazilian fintech, will allocate 10% of its cash reserves to Bitcoin, investing $4.1 million so far. The move aims for long-term gains and reflects the company’s proactive approach toward cryptocurrency integration.

Méliuz, a prominent Brazilian fintech, has recently decided to dedicate up to 10% of its cash reserves to Bitcoin (BTC) in pursuit of long-term investment gains. The board of directors sanctioned this strategy, which aims to capitalize on the potential of cryptocurrency in enhancing financial stability.

To initiate this approach, Méliuz has already acquired 45.72 BTC, amounting to approximately $4.1 million, at an average purchase price of $90,926 per Bitcoin. This calculated investment showcases the company’s commitment to leveraging effective financial strategies.

Furthermore, with over 30 million users, Méliuz is widely recognized for its cashback and financial service offerings in Brazil. The fintech is also exploring the possibility of integrating Bitcoin into its primary asset strategy to generate additional Bitcoin benefits for shareholders.

In conclusion, Méliuz’s strategic decision to allocate a portion of its cash reserves to Bitcoin reflects a growing trend among financial entities to embrace cryptocurrency. By investing $4.1 million in BTC, the company aims for long-term financial returns while exploring further integration of cryptocurrency into its operations, potentially enhancing shareholder value.

Original Source: www.coindesk.com

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