Brazilian publicly traded company Méliuz plans to continue hodling $26.5 million worth of Bitcoin

BlockBeats News, May 22nd, according to Cryptonews, Brazilian publicly traded company Méliuz plans to repurchase $26.5 million worth of Bitcoin. Méliuz stated that it intends to raise at least 1.5 billion Brazilian reals (approximately $26.5 million) through the issuance of shares or convertible bonds and is working with the investment bank BTG Pactual to advance the financing plan.

Brazilian publicly traded company Méliuz has already purchased $28.4 million worth of Bitcoin, becoming the first publicly traded company in Brazil to include Bitcoin in its balance sheet. The company's Bitcoin asset allocation strategy has received overwhelming shareholder support, with an overwhelming majority in favor.