The Brazilian payments company Méliuz, renowned for its presence in the stock market, is setting sights on expanding its Bitcoin (BTC) portfolio with an ambitious investment of approximately $26.5 million. Reports from the Brazilian news source Livecoins highlight Méliuz’s strategy to gather funds intended for the acquisition of additional Bitcoin, marking it as a pioneering move for the firm in aligning its treasury with the digital currency. Earlier in the month, Méliuz distinguished itself as the first Brazilian public company to integrate Bitcoin into its treasury, with a significant purchase valued at nearly $28.5 million for 274.52 BTC.
### Expanding Bitcoin Investments
Méliuz has announced its plans to continue acquiring BTC in the coming weeks. The firm is aiming to secure at least 150 million real ($26.5 million) for future Bitcoin purchases. The announcement was made to shareholders, and the company is currently exploring various fundraising options. According to Méliuz CEO Israel Salmen, the company is considering either share issuance or convertible debt as methods to raise the required funds. Additionally, Méliuz is collaborating with the São Paulo-based investment bank BTG Pactual to facilitate the financing for its next Bitcoin acquisition.
Marcio Loures Penna, the Director of Investor Relations and Corporate Governance at Méliuz, shared that the company might issue financial instruments that could be converted into shares or remain as non-convertible debt securities. The firm is also pondering the possibility of a primary public offering of common shares, which might include subscription bonuses. While Méliuz’s immediate goal is to raise 150 million real, the company is open to increasing its investment should suitable opportunities emerge.
Méliuz, however, has clarified that these plans are provisional and subject to an evaluation process before any further Bitcoin purchases are finalized.
🇧🇷 @MeliuzBitcoin #CASH3 is evaluating a potential capital increase to boost its Bitcoin strategy, possibly through share issuance or convertible debt, with BTG coordinating a potential offering. ⚡ – Israel Salmen
Méliuz remains committed to keeping its shareholders and the market updated on its Bitcoin investment journey, ensuring alignment with the best corporate governance practices and compliance with relevant legislation and regulations. Since its inception in 2011, Méliuz has offered a range of services including cashback and vouchers for both online and physical retail, alongside the Méliuz credit card. The company made its mark with a successful initial public offering on the Brazilian B3 exchange in November 2020, amounting to $103 million.
