In a move signaling a shift in corporate treasury management, Brazilian Fintech Méliuz has embraced a new strategy to allocate a part of its overall cash reserves to Bitcoin, with the potential to make the leading cryptocurrency its primary treasury asset.
Announced this past Thursday (March 6, 2025), this decision has sparked significant market enthusiasm, driving the company’s São Paulo-traded shares up by more than 25%.
Méliuz, an emerging player in Brazil’s fast-evolving fintech space, aims to harness Bitcoin for “long-term returns,” drawing motivation from global companies like U.S.-based Strategy, which is by far the largest corporate holder of Bitcoin, and Japan’s Metaplanet.
Under the new policy, Méliuz is reportedly permitted to invest up to 10% of its cash reserves in Bitcoin.
The Fintech company wasted no time, reportedly purchasing 45.72 BTC for approximately $4.1 million, according to a securities filing.
With net cash reserves exceeding 240 million reais ($41.72 million), Méliuz sees this as a strategic pivot away from traditional fixed-income investments.
Chairman Israel Salmen emphasized the opportunity cost of sticking to conventional strategies, stating:
“Allocating a significant amount of our capital to fixed income investments may seem prudent, but in practice, we believe it represents a significant opportunity cost.”
Like other executives and firms adopting these strategy, he views the adoption of Bitcoin as a way to both safeguard and enhance Méliuz’s financial position while positioning the company as a trailblazer in a global financial transformation.
Founded in 2011, Méliuz started as a cashback platform for online shoppers before expanding into physical retail, app-based services, and financial products like free digital accounts and credit cards.
The company went public in late 2020, riding the wave of Brazil’s fast-growing fintech ecosystem.
However, its stock has since faltered amid the country’s high interest rates, which have squeezed growth prospects for many tech firms.
This Bitcoin strategy appears to be a calculated effort to reinvigorate investor interest and capitalize on the growing acceptance of cryptocurrency as a legitimate asset class.
Méliuz’s leadership isn’t stopping at this initial investment.
The company plans to conduct a detailed analysis to explore making Bitcoin its “main strategic asset” within its treasury.
This seemingly forward-thinking approach aligns with a broader global trend, as corporations increasingly view cryptocurrencies as alternative stores of value and hedges against inflation.
Analysts at UBS BB noted that while this move is relatively novel among Brazilian firms, it clearly mirrors strategies gaining traction worldwide.
“If successful, the strategy might set Méliuz apart in attracting investors interested in crypto exposure,” they wrote in a client note, though they cautioned that it could also introduce greater volatility to the company’s financial results.
For Méliuz, the stakes are high but the potential rewards are significant. By integrating Bitcoin into its treasury, the company is betting on the cryptocurrency’s long-term value while challenging traditional financial norms. While this approach might even fail in the long-term if BTC fails to gain more traction and loses its global dominance, it is still not discouraging many industry participants to take large positions in the flagship cryptocurrency.