SAO PAULO (Reuters) – Brazilian fintech Meliuz said on Thursday its board of directors had approved a new treasury strategy allowing the company to allocate resources and make investments in bitcoin as it seeks “long-term” returns.
The new strategy allows up to 10% of Meliuz’s cash to be allocated in bitcoin, the firm said in a securities filing, adding it had already purchased 45.72 bitcoin for about $4.1 million.
The policy might be expanded in the future as the board has also requested that the firm conduct a “detailed analysis” on the new strategy, including “the adoption of bitcoin as the main strategic asset of our treasury,” Meliuz said.
(Reporting by Gabriel Araujo; Editing by Alison Williams)
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