**Méliuz Takes a Bold Step: 10% of Treasury ($4.1M) Invested in Bitcoin, First B3-Listed Company to Embrace BTC on Its Balance Sheet**
Méliuz, a well-known Brazilian cashback platform, made headlines on June 3 by announcing a significant move: it has allocated 10% of its treasury, amounting to $4.1 million, to Bitcoin. This investment, which includes the acquisition of 45.72 BTC at an average price of $90,296 per coin, marks Méliuz as the first company listed on B3 to incorporate Bitcoin into its balance sheet. This strategic decision reflects a growing interest in cryptoassets and a shift towards diversifying their financial portfolio.
To manage this new venture, Méliuz has set up an internal Bitcoin treasury management committee. This team will be responsible for overseeing custodial protocols and planning future allocations. In the coming 45 to 60 days, the company plans to release an impact assessment report that will provide insights into portfolio rebalancing and risk-adjusted returns.
Taking Inspiration from MicroStrategy
Méliuz has drawn inspiration from the U.S. software company MicroStrategy, which has famously invested $45 billion in Bitcoin since 2020, accumulating 499,000 BTC under the leadership of CEO Michael Saylor. This strategy has significantly boosted MicroStrategy’s market cap from $500 million to an impressive $77 billion, showcasing Bitcoin’s potential as a hedge against volatility and a reliable treasury reserve asset.
A Long-Term Vision
Chairman Israel Salmen described the Bitcoin allocation as a “structurally superior” alternative to traditional cash reserves, emphasizing a long-term HODL strategy with no immediate plans for liquidation. Previously, Méliuz explored the crypto space through Liqi’s tokenization platform, but this new approach signifies a commitment to direct Bitcoin exposure and reflects their aspirations for institutional-grade custody.
This decision comes at a time when Méliuz’s stock performance on B3 has faced challenges. Once valued at a $1.1 billion market cap in 2021 with $46 million in daily liquidity, the company now sees its valuation around $50 million, grappling with a liquidity crunch at $730,000 in daily volume. In a letter to shareholders, Salmen acknowledged these hurdles but framed the adoption of Bitcoin as a potential catalyst for re-engaging investors.
Brazil’s Growing Crypto Landscape
Méliuz is joining a wave of Brazilian companies embracing digital assets. E-commerce giant Mercado Livre added $7.8 million in Bitcoin to its treasury in 2021 and has enabled crypto payments for real estate transactions. Banco do Brasil made headlines by acquiring $1.59 million in BlackRock’s Bitcoin ETF (IBIT) in December 2024, ensuring regulated exposure. Additionally, BTG Pactual launched Mynt, a digital asset exchange, and has developed its own Bitcoin mining infrastructure.
Recent data from Brazil’s Federal Revenue Service indicates that over 25,000 Brazilian businesses are now engaging in crypto transactions, highlighting a growing trend of corporate adoption amid clearer regulatory frameworks. Analysts from ETHNews note that Brazil is aligning with global trends, as companies leverage Bitcoin for treasury diversification, inflation hedging, and the development of digital asset infrastructure. Méliuz’s allocation underscores Bitcoin’s evolution as a valuable tool for treasury management, even as market responses continue to unfold.
