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

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

Méliuz's move aims to replicate the successful model of Strategy. Strategy is one of the world's largest holders of Bitcoin companies, and its strategy of continuously buying Bitcoin as a treasury reserve asset has been significantly successful. As a well-known e-commerce and fintech company in Brazil, Méliuz's decision marks an increasing acceptance by Latin American businesses towards using Bitcoin as a treasury asset.