Brazil's first listed bitcoin treasury firm buys 274.5 BTC amid growing corporate crypto adoption

Brazilian publicly listed fintech firm Méliuz announced Thursday the acquisition of 274.52 BTC, following shareholder approval of its bitcoin treasury strategy.

"Our shareholders have approved, by a wide majority, the transformation of Méliuz into the first Bitcoin Treasury Company listed in Brazil," Israel Salmen, the company's chairman, wrote on X Thursday.  

The firm bought 274.52 BTC for $28.4 million, at an average price of $103,604 per bitcoin. It currently holds 320.2 BTC, worth over $33.3 million at current market price.

"A Bitcoin treasury company's main mission is to accumulate Bitcoin in an accretive way for shareholders, using its cash generation and corporate and capital market structures to increase exposure to the asset over time," the company said in its press release.

Since making its first bitcoin purchase on March 6, Méliuz's stock price has risen 116% to $1.47 from $0.68, according to Google Finance data . Early adopters of bitcoin treasuries, such as Strategy and Metaplanet, have seen similar stock price gains when they began accumulating the world's largest cryptocurrency.

Méliuz's bitcoin acquisition is part of an increasing movement among publicly traded companies to diversify their corporate treasuries with digital assets.

New York-based DDC Enterprise Limited, also known as DayDayCook, also announced its bitcoin accumulation strategy on Thursday, with an immediate purchase of 100 BTC. It targets to amass 500 BTC within six months and 5,000 BTC in the coming 36 months, according to its press release .

Some corporate treasuries have also incorporated other cryptocurrencies, such as Ethereum and Solana, into their holdings.