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Méliuz announces the issuance of primary shares worth 78.6 million USD to purchase additional Bitcoin
Méliuz, a Brazilian fintech company, caused shares to fall more than 8% on Friday after announcing plans for a primary issuance of shares to raise up to 450 million reais (78.6 million USD) to buy more Bitcoin.
Initially, the company planned to issue 17 million shares to raise 150 million reais (26.2 million USD), with the potential to expand up to three times if demand increases.
This move marks a new step in Méliuz's transformation strategy into "Brazil's first Bitcoin treasury company." Since March, the company has purchased 320.2 BTC worth approximately 33.55 million USD. Méliuz is one of the first fintech companies in Brazil to provide access to cryptocurrency and is increasing its participation in this field. The company stated that the current goal is to maximize the amount of Bitcoin per share, rather than just using Bitcoin as an inflation hedge.