Brazilian Méliuz purchased Bitcoins worth $4.1 million

The Brazilian company Méliuz, which provides digital financial services, acquired 45.72 BTC for 24.6 million reais ($4.1 million) at an average price of $90,296 per coin for long-term storage, according to the company's press service.

According to Méliuz CEO Israel Salmen, the purchase of BTC will help reduce risks associated with the country's monetary policy. He contrasted cryptocurrency with fixed-income investments, which are shrinking due to high taxation. Additionally, the CEO highlighted the scarcity of Bitcoin, whose supply is limited to 21 million coins. 

As a result, Méliuz plans to make Bitcoin the primary treasury asset. The board of directors of Méliuz approved changes to its liquidity management policy, according to which the company can allocate up to 10% of its reserves to Bitcoin purchases. 

Previously, the hybrid cryptocurrency exchange GRVT announced a $5 million investment from Abu Dhabi-based Further Ventures, bringing the total funding to $14.3 million with the new contribution.