Bitcoin reserves have become common not only in governments but also in companies. Brazil’s Méliuz says its board has approved a new treasury strategy that allows for up to 10% cash allocation in Bitcoin.
Reports say that the cash allocation has allowed the company to secure 45.72 BTC for $4.1 million at an average price of $90,296.11 per Bitcoin.
Over 30 million people in Brazil have signed up for Meliuz, which is known for its cashback and financial services website. In addition, the company is considering expanding its treasury plan to consider making Bitcoin a main asset and finding ways to make more Bitcoin for shareholders.
Meanwhile, the company’s executive team is to conduct an assessment of necessary amendments to corporate documents, policies, and internal procedures, including risk management structures and policies, to accommodate an increased investment limit in Bitcoin.
The Company will release a new material fact announcement as soon as these decisions are finalized, which is expected to occur within approximately 45 to 60 days.
An increase in acceptance of Bitcoin in LATAM for crypto reserves
In the US, talks about putting crypto into corporate reserves are slowly picking up speed. However, some of the biggest companies in Latin America are already investing in Bitcoin, making huge profits on their bets and making crypto services available to more people.
Many people in the region have turned to crypto as a way to diversify their savings and protect themselves against the continent’s persistently high inflation. This is because big companies like Strategy (formerly known as MicroStrategy) and even sovereign nations like El Salvador have amassed large amounts of Bitcoin.
Based on information gathered by Bitcoin Treasury.NET on corporate and sovereign holdings, three Argentine companies, including Mercado Libre, the biggest publicly traded company in the whole region, currently own a total of 1,300 Bitcoin.
Mercado Libre has recently launched its stablecoin in Brazil, which is its biggest market. The coin is called the “Meli dollar,” and it has more than 50 million users in the area. The company first introduced its token as a way to reward users for staying active on its marketplace site.
Other than crypto platforms, Nubank is one of the biggest companies in Latin America that offers crypto services. The publicly traded Brazilian bank has over 100 million users in Brazil, Colombia, and Mexico and is partly owned by Warren Buffett’s Berkshire Hathaway.
To meet the needs of the Latin American market, it has been steadily expanding its crypto offerings. It started selling in 2022 because of a growing trend in Latin America. Since then, it has slowly added more items to its menu.
Latin American fintech giants are becoming much more interested in the crypto business, and not just for treasury investments. This is because these companies see large numbers of people using crypto and see big business chances in it.
Bitcoin price recovery
Bitcoin prices went up on Thursday, continuing their recent recovery after falling. This was due to more rumours about U.S. President Donald Trump’s plans for a crypto reserve before this week’s White House meeting.
Bitcoin was selling well above the lows of less than $80,000 it hit last week when worries about slowing U.S. growth and a possible global trade war made people less willing to take risks. When Trump first talked about a crypto reserve, prices went up for a short time.
However, Howard Lutnick, the secretary of commerce for the United States, has revived hopes that Trump will discuss his plans for a Bitcoin strategic reserve in more detail on Friday when he hosts the first crypto conference at the White House. This has sparked some excitement. Now, BTC is sitting at $90,144, with a low of $87,736 and a high of $92,756.
Trump has kept the tariffs against China, Mexico, and Canada. The U.S. president also hinted at plans for more trade duties in April, which made people more willing to take risks.
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