Brazilian fintech firm Meliuz has raised 180.08 million reais (US$32.5 million) through a follow-on share offering, according to a securities filing on June 13.

The offering, led by investment bank BTG Pactual, was priced at 7.06 reais (US$1.27) per share.

This reflects a 5% discount from the firm’s closing price on June 12.

Meliuz plans to use the proceeds to increase its bitcoin holdings.

Earlier this year, the company announced a strategy to allocate cash reserves into cryptocurrency.

🔗 Source: Reuters

🧠 Food for thought

1️⃣ Corporate bitcoin treasury adoption accelerates globally

Meliuz’s move aligns with a significant global trend where companies increasingly hold bitcoin as a treasury asset rather than traditional cash reserves.

As of February 2025, approximately 80 public companies worldwide held 632,381 bitcoin valued at approximately $55.89 billion, demonstrating substantial corporate adoption 1.

MicroStrategy leads this movement with approximately 158,000 BTC (valued at over $4 billion), having pioneered the strategy that Meliuz is now introducing to Brazil 2.

This approach represents a fundamental shift in corporate treasury management, with companies viewing bitcoin as a potential hedge against inflation and currency debasement rather than simply a speculative investment.

By positioning itself as “the first bitcoin treasury company” in Brazil, Meliuz is establishing a regional precedent that could influence other Latin American companies, especially as bitcoin recently reached $112,000 in May 2025 3.

2️⃣ Financing bitcoin acquisitions through equity reflects evolving strategies

Meliuz’s choice to raise funds through a follow-on share offering (with a 5% discount) represents one of several approaches companies use to finance bitcoin acquisitions.

This contrasts with other bitcoin treasury companies like MicroStrategy that have utilized convertible bonds and other debt instruments to leverage their bitcoin acquisition strategy 2.