The board of directors of Brazilian listed company Meliuz has approved allocating up to 10% of its cash reserves to Bitcoin

ChainCatcher news, according to Brazil Journal, the board of directors of the Brazilian publicly traded company Meliuz has approved a new treasury management strategy that allows for up to 10% of cash reserves to be allocated to Bitcoin. The company has already purchased 45.72 bitcoins for $4.1 million, marking the first step in implementing this strategy.

Méliuz's move aims to replicate the successful model of Strategy. Strategy is one of the largest holders of Bitcoin companies globally, having achieved significant success through its strategy of continuously purchasing Bitcoin as a treasury reserve asset. As a well-known e-commerce and fintech company in Brazil, this decision by Méliuz signifies the increasing acceptance of Bitcoin as a treasury asset among businesses in the Latin American region.