Brazil’s Meliuz floats to boost Bitcoin buying strategy

Brazilian fintech firm Meliuz has floated a plan to expand its Bitcoin holdings and make the cryptocurrency a strategic asset on the company’s books.

Meliuz, which provides cashback and financial technology services, is taking the plan to make Bitcoin (BTC) the primary strategic asset in the firm’s treasury to shareholders in a meeting slated for May 6, according to a translated April 14 statement.

The company said its core business will remain unchanged, but “the generation of cash from operations is fundamental to the strategy of acquiring more Bitcoin over time.” 

If shareholders approve the measure, Bitcoin will be adopted as the firm’s main strategic treasury asset, but it will also look to foster “the incremental generation of Bitcoin for its shareholders, whether through the generation of operating cash or through possible financial transactions and strategic initiatives.”