Méliuz Announces Capital Increase of up to $78.6 Million for Bitcoin Purchase

Doohyun Hwang

Summary

Méliuz announced a plan for a paid-in capital increase of up to $78.6 million to raise funds for Bitcoin purchases.
Through this capital increase, the company will initially raise about $26.2 million, with the possibility to increase the size of the offering by up to 200%.
Méliuz has been steadily acquiring Bitcoin and currently holds a total of 320 Bitcoins.

Brazilian fintech company Méliuz has announced plans for a paid-in capital increase of up to R$450 million (approximately $78.6 million) to raise funds for purchasing Bitcoin (BTC).

According to The Block on the 30th (local time), Méliuz plans to initially issue about 17 million common shares and raise R$150 million (approximately $26.2 million) through this capital increase. If there is demand, the company has left the option open to expand the capital increase by up to 200%.

In March, Méliuz purchased Bitcoin for the first time, investing about $4.13 million. Since then, the company has continued its purchases and currently holds a total of 320 Bitcoins.

Ray Nasser, Latin America director at Blockfills, commented, "Méliuz is focusing on increasing value by mirroring Strategy’s tactics," and analyzed, "The company has jumped on the Bitcoin bandwagon to regain market attention."

BTC