Brazilian Company Méliuz Invests 10% of Cash Reserves in Bitcoin

In a bold and groundbreaking move, Brazilian cashback company Méliuz announced this Thursday (March 6) that it has allocated 10% of its cash reserves—totaling $4.1 million—into Bitcoin. This strategic investment is designed to mirror the success of companies like MicroStrategy, which has seen substantial returns from similar initiatives.

Méliuz purchased 45.72 bitcoins at an average price of $90,296 per coin, marking the company as the first publicly listed Brazilian firm to make a significant Bitcoin investment.

To manage this new venture, Méliuz has established a Bitcoin Strategic Committee, tasked with evaluating the possibility of increasing the allocation and setting clear guidelines for future cryptocurrency investments. The company plans to release a preliminary report on this strategy within the next 45 to 60 days.

Inspired by MicroStrategy’s Bitcoin Success

Méliuz’s decision is inspired by the success of MicroStrategy, a U.S.-based software company that has been investing heavily in Bitcoin since 2020. Under CEO Michael Saylor’s leadership, MicroStrategy’s market value surged from $500 million in 2020 to $77 billion today, while accumulating nearly 499,000 bitcoins—currently valued at $45 billion. Another notable example is Tesla, which holds 11,500 bitcoins worth over $1 billion.

Méliuz’s Move Amid Sluggish Stock Performance

The decision to invest in Bitcoin comes at a time when Méliuz’s stock has struggled to maintain investor attention. In mid-2021, the company reached its peak market value, with daily trading volumes averaging R$ 250 million and a market cap of nearly R$ 6 billion. Today, Méliuz’s market value has dwindled to about R$ 270 million, with a daily liquidity of only R$ 4 million, resulting in decreased analyst coverage and fading investor interest.

In a letter to shareholders, CEO Salmen expressed concern over the current state of the company’s stock but emphasized confidence that the Bitcoin strategy will revitalize market interest and position Méliuz as an innovative player in Brazil’s financial landscape.

Growing Interest in Cryptocurrencies Among Brazilian Companies

Over the past few years, several Brazilian companies have increasingly embraced cryptocurrencies, either by adding Bitcoin to their financial strategies or offering crypto-related services. Mercado Livre, one of Latin America’s largest e-commerce platforms, made headlines in 2021 by purchasing $7.8 million in Bitcoin as part of its treasury strategy. The company also began accepting cryptocurrency payments for real estate transactions in Brazil, expanding payment options for its customers.

According to data from Brazil’s Federal Revenue Service (RFB), over 25,000 companies in Brazil are now trading Bitcoin and other cryptocurrencies. In December 2024, Brazil’s Banco do Brasil joined the ranks of major institutional investors in the cryptocurrency space by contributing $1.59 million to the Bitcoin Exchange-Traded Fund (ETF) launched by BlackRock—further demonstrating the growing acceptance and interest from traditional financial institutions.

BTG Pactual, one of Brazil’s leading financial institutions, has also made significant strides in the crypto market. In addition to launching the Mynt platform, which allows clients to trade digital assets within the bank’s ecosystem, BTG has distinguished itself as one of the few banks globally to operate its own Bitcoin mining operations.