More companies are piling into bitcoin, trying to capture the attention of investors and become regional emulators of Michael Saylor’s Strategy. Brazil-based OranjeBTC is one of the latest companies to enter the bitcoin arena.
The company, founded by former Bridgewater Associates partner Guilherme Gomes, has become the largest bitcoin treasury company in Brazil and Latam, recently revealing it had acquired 3,650 BTC for nearly $385 million at an average price of $105,300 since June.
The purchase put the company over Meliuz, which amassed 604.7 BTC at the time of writing. Nonetheless, they are not comparable, as Meliuz is primarily a cashback company, while OranjeBTC is a “pure” bitcoin treasury initiative. Big names are behind its seed funding round, including Gemini’s Cameron and Tyler Winklevoss, legendary cryptographer Adam Back, FalconX, and Mexican tycoon Ricardo Salinas.
OranjeBTC has stated that it is just getting started and is expected to keep acquiring bitcoin after going public in Brazil’s B3 in early October through a reverse Initial Public Offering (IPO). The company will leverage Intergraus, a school chain company, for this end and will use its infrastructure to offer crypto education courses.
Talking to Brazil Journal, Gomes explained that OranjeBTC’s objective is to offer Strategy’s strategies to Latam investors.
He declared:
We are bringing to Latin America the first publicly traded company 100% focused on bitcoin, with the goal of accumulating the largest possible bitcoin balance, and with special attention to investor education.
Furthermore, Gomes assessed that it was still early days for this kind of investment trend, betting on its massification in the near future. “We’ll soon see banks and insurance companies doing the same. It’s the beginning of a new industry. In all of Latin America, there’s still no company 100% focused on this,” he concluded.
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