Méliuz, a Brazilian fintech firm, became the largest corporate Bitcoin holder in Latin America after purchasing nearly 600 BTC.
The firm spent $28.6 million on the acquisition, buying Bitcoin at an average price of $103,864.
The company announced the purchase in a press release on June 23. It said the funding came from issuing R$158 million ($28.7 million USD) in new shares.
Méliuz’s latest purchase pushed its total average buying price to $102,702.
In a public statement, Méliuz posted,
“There is no public company in Latin America with more Bitcoin than Méliuz! After delivering a yield of 44% to our shareholders in the last 36 days, we now have almost 600 BTC.”
The company also noted it bought more Bitcoin than MicroStrategy on that day.
Méliuz Becomes Bitcoin-First Company
Méliuz previously focused on cashback and coupon services for online and retail shopping in Brazil. In recent months, it restructured its business to become a Bitcoin-first company.
The shift reflects a wider trend among firms adopting crypto-based balance sheets. While many major corporate Bitcoin holders are U.S.-based, Méliuz became the leading Bitcoin-first company in Latin America.
The firm now ranks 36th in the world among public companies holding Bitcoin. This puts it ahead of several smaller international players. Méliuz continues to frame its pivot as a strategic shift in financial focus.
The company’s BTC accumulation took place over several weeks. Each purchase contributed to lowering its total average buying cost. Méliuz did not state any plans for future purchases.
Corporate Bitcoin Purchase Sparks Risk Concerns
The $28.6 million BTC investment added Méliuz to the list of firms making major corporate Bitcoin purchases.
However, the trend raised concerns among financial analysts about crypto exposure in corporate strategy.
On the same day, Anthony Pompliano announced a $1 billion merger to launch a company offering Bitcoin-native financial services.
After the announcement, the company’s stock dropped 24%. The incident added to the growing conversation about Bitcoin-first company risks.
Bitcoin’s price swings can significantly affect financial reports. During market downturns, companies like Méliuz may face sharp drops in portfolio value. That could impact shareholder sentiment and internal planning.
Méliuz did not comment further on its financial risk approach or hedging strategies.
It only confirmed that its position remains active and its BTC holdings continue to grow in value since the purchase.
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