Brazilian Fintech Méliuz Launches Share Offering to Stack More Bitcoin

Méliuz Pivots to Become Brazil's First Bitcoin Treasury Company

In a bold move, Brazilian fintech company Méliuz announced a primary share offering to raise up to 450 million reais ($78.6 million) for expanding its Bitcoin holdings. This strategic shift transforms the company from a traditional fintech player into what it now calls "Brazil's first Bitcoin treasury company."

Trading on the B3 exchange under ticker CASH3, Méliuz plans an initial offering of 17 million common shares to raise 150 million reais ($26.2 million). The company included provisions to potentially triple the offering size if demand warrants it.

The announcement follows Méliuz's $4.13 million Bitcoin purchase in March, bringing its total holdings to 320.2 BTC (worth approximately $33.55 million at current prices). The company has evolved from using Bitcoin as an inflation hedge to actively maximizing its Bitcoin-per-share ratio.

Méliuz shares have shown remarkable volatility, gaining over 217% since January 2025 and reaching multi-year highs near 11 reais per share. However, Friday's news triggered an 8% drop as investors reacted to the potential dilution from the share offering.

This strategic pivot draws comparisons to MicroStrategy's Bitcoin treasury approach, though on a smaller scale. With a market cap around 305 million reais ($53.8 million), Méliuz's crypto move has generated mixed reactions - some praise the bold strategy while others question the departure from core business operations.

The share offering pricing occurs on June 12, with new shares trading beginning June 16. Existing shareholders get priority through two subscription periods before general availability.

• Current Bitcoin holdings show a modest 3% profit at an average purchase price of $101,575 per coin
• Analysts view this as an attempt to replicate the market benefits MicroStrategy gained from its Bitcoin strategy