Brazilian Cashback Giant Méliuz Doubles Down on Bitcoin—Issues Stock to Fuel Crypto Treasury
In a bold move that screams ’2025 or bust,’ Brazilian rewards platform Méliuz is swapping shareholder equity for digital gold. The company announced plans to issue new stock—not for R&D or expansion, but to stack more Bitcoin onto its balance sheet.
Because when traditional markets wobble, why not let retail investors foot the bill for your hedge against inflation? The boardroom probably high-fived over this one—nothing secures shareholder value like converting their equity into a volatile asset that could moon or crater by quarterly earnings.
Watch this space: either Méliuz becomes the corporate Bitcoin whale of LatAm, or a case study in ’creative treasury management.’
Méliuz embraces Bitcoin amid its transformation
The latest announcement marks a new chapter in the company’s transformation, moving from a traditional fintech to what can be described as the first Bitcoin treasury company in Brazil.
Since March, when the company made a $4.13 million bitcoin purchase, Méliuz has accumulated around 320.2 BTC, currently worth $33.55 million. It also became one of the first fintech companies in Brazil to offer crypto exposure to its clients, with this new step a way to increase its involvement in the industry.
“Rather than just allocating part of its cash to Bitcoin as a hedge against inflation or currency devaluation, the company has repositioned its purpose to act by maximizing the amount of Bitcoin per share,” the company said in a previous statement about its strategy shift.
Markets appear to have priced in the news, with the company’s stock swinging wildly over the past year. The stock is up 217% since the beginning of 2025 at around 2.53 reais per share, climbing to a high of around 11 reais. The recent drop saw the price hit 8.13 reais, with trading volume hitting 6.51 million shares.
According to Ray Nasser, the head of the Latin America branch of trading firm BlockFills, Méliuz has been adopting the same strategy as Michael Saylor-owned Strategy (formerly MicroStrategy). He mentioned that the MOVE has been able to help its shareholders get better value for their money.
“The company lost its relevance over the years, and its stock price went down,” he said. “Although it made a turnaround in 2024, it’s doing what Strategy is doing now, it’s riding the hype.”
Comparison to Strategy and Bitcoin adoption
The firm has earned the compliment of being compared to United States firm, Strategy over the last few years. Strategy kickstarted the big-scale Bitcoin adoption in the United States, with the firm now holding about 580,250 Bitcoins, worth over $60 billion, using several capital raises.
During the bull run, the company’s stock outperformed Bitcoin itself, creating what some analysts called a “Bitcoin proxy” for investors.
But Méliuz carries out its operation differently, with the company’s market cap hovering around 305 million reais ($53.8 million), a fraction of its 9 billion reais peak after it went public in 2020. Meanwhile, the company has set its pricing for June 12, with trading of the new shares beginning on June 16.
The company has scheduled two priority subscription periods for existing shareholders, with the first expected to start on June 4 after a June 3 cutoff date, and the second expected to end on June 10, after a June 9 cutoff date, allowing them to own the new shares first.
The company was founded in 2011 and has built its business on cashback rewards and discount coupons, partnering with over 1,000 brands and accumulating 35 million registered users. Méliuz started offering Bitcoin exposure to clients back in 2022 when PayPal and other companies showed positive results experimenting with crypto purchases.
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