The company said its core business will remain unchanged, but “the generation of cash from operations is fundamental to the strategy of acquiring more Bitcoin over time.” If shareholders approve the measure, Bitcoin will be adopted as the firm’s main strategic treasury asset, but it will also look to foster “the incremental generation of Bitcoin for its shareholders, whether through the generation of operating cash or through possible financial transactions and strategic initiatives.” Shareholders who disagree with the new direction and held their shares before April 14 can request reimbursement. Meliuz shares jump on Bitcoin planIn the trading session after its new Bitcoin plan was announced, Meliuz (CASH3) jumped over 14% from 3.28 Brazilian reals ($0.56) to 3.76 Brazilian reals ($0.64) on the Brazilian Stock Exchange, according to Google Finance.
Meliuz, which provides cashback and financial technology services, is taking the plan to make Bitcoin (BTC) the primary strategic asset in the firm’s treasury to shareholders in a meeting slated for May 6, according to a translated April 14 statement.
Public companies bought around 95,431 Bitcoin over the quarter, increasing the total holdings across all company’s balance sheets to around 688,000. Meliuz was among 12 firms that added Bitcoin to their balance sheets for the first time in Q1 20025, joining the likes of video-sharing platform Rumble.
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Author / Journalist: Cointelegraph by Stephen Katte
The story "Brazil’s Meliuz floats to boost Bitcoin buying strategy" has 427 words across 16 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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