Brazilian Firm Méliuz Builds Bitcoin Reserves with Low-Risk Options Strategy
Méliuz S.A. filed a material fact on September 10, 2025, detailing its derivatives plan to grow Bitcoin holdings. The firm sells cash-secured put options on Bitcoin. This method creates yield from market swings while adding to reserves.
Méliuz launched its Bitcoin treasury in March 2025. The board set a policy for up to 10% of cash in Bitcoin. It bought 45.72 Bitcoin for $4.1 million at $90,296 each. Brazil’s average inflation of 5% yearly made this a smart hedge.
The real weakened over 30% against the dollar in five years. Shareholders approved expansion in May 2025. Méliuz added 274.52 Bitcoin for $28.4 million at $103,604 per coin. Holdings totaled 320.24 Bitcoin then.
A June 2025 share offering brought $32.4 million. The company used it for 275.43 more Bitcoin. Total reached 595.67 Bitcoin. Bitcoin yield hit 908% that quarter.
Méliuz earned 365 million reais in 2024 revenues. Its app helps millions with cashback deals. Founded in 2011, it trades as CASH3 on B3 since 2020.
On September 3, 2025, extra cash funded 9.01 Bitcoin at $112,172 each for $1.01 million. Holdings now total 604.69 Bitcoin. This tops public lists in Latin America.
Put options let buyers sell Bitcoin at fixed strikes later. Méliuz takes premiums right away. High prices mean it keeps the cash for more buys. Low prices trigger reserved funds to purchase at strikes, often at discounts.
Full cash backs all options. No leverage enters the mix. Collateral uses under 10% of minimum cash. Partners with expertise run the trades. Quarterly filings track outcomes.
This setup turns Bitcoin ups and downs into business gains. Shares climbed 69% year-to-date in 2025. Firms watch closely. It shows how treasuries fight currency erosion with steady accumulation.
Timeline of Bitcoin Accumulation – Méliuz
| Date | Action | BTC Acquired | Total Holdings | Approx. Value (USD) | Notes |
|---|---|---|---|---|---|
| March 2025 | Initial treasury policy approval; first purchase | 45.72 | 45.72 | $4.1M | Up to 10% of cash reserves allocated to BTC. |
| May 2025 | Major acquisition post-shareholder approval | 274.52 | 320.2 | $28.4M | Became Brazil’s first official Bitcoin Treasury Company; average price $103,604/BTC. |
| June 2025 | Share offering raise and follow-on buy | 275.43 | 595.67 | $28.61M | Raised $32.4M via stocks; BTC Yield reached 908%. |
| September 3, 2025 | Operational cash-funded purchase | 9.01 | 604.69 | $1.01M | No dilution; average price $112,172/BTC. |
| September 10, 2025 | Derivatives strategy launch | N/A (yield-focused) | 604.69 (ongoing) | N/A | Cash-secured puts to monetize volatility. |
Live Market IntelligenceCrypto — Live Market Board
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Crypto — Live Market Board
-0.26%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| BTC | 63,384 | -0.26% | -47.24% | 63,552 | 64,346 | 63,305 | 22,774,743,040 |
| ETH | 1,886 | +0.26% | -58.90% | 1,881 | 1,920 | 1,879 | 7,916,475,392 |
| SOL | 75.89 | -0.40% | -60.44% | 76.20 | 76.99 | 75.39 | 1,473,821,056 |
| XRP | 1.01 | -1.15% | -69.07% | 1.02 | 1.02 | 1.01 | 1,144,044,416 |
| BNB | 609.60 | -1.12% | -26.81% | 616.50 | 619.30 | 609.23 | 1,266,706,432 |
| ADA | 0.18 | -1.98% | -78.22% | 0.19 | 0.19 | 0.18 | 238,085,632 |
| DOGE | 0.07 | -1.56% | -70.00% | 0.07 | 0.07 | 0.07 | 553,256,192 |
| AVAX | 6.38 | +1.04% | -74.11% | 6.32 | 6.42 | 6.21 | 248,470,560 |
| LINK | 8.77 | -0.06% | -62.73% | 8.77 | 8.87 | 8.68 | 317,054,880 |
| DOT | 0.78 | -0.75% | -81.11% | 0.79 | 0.80 | 0.78 | 43,490,492 |
| LTC | 45.08 | -0.85% | -65.45% | 45.47 | 45.59 | 44.98 | 143,727,712 |
| BCH | 213.85 | +0.10% | -65.44% | 213.64 | 215.69 | 212.54 | 137,956,688 |
| TRX | 0.34 | +0.28% | -4.73% | 0.33 | 0.34 | 0.33 | 436,576,064 |
| XLM | 0.16 | -1.33% | -64.46% | 0.16 | 0.16 | 0.16 | 89,559,864 |
| HBAR | 0.07 | -0.53% | -74.67% | 0.07 | 0.07 | 0.07 | 22,546,186 |
| NEAR | 1.65 | +2.42% | -40.55% | 1.62 | 1.68 | 1.61 | 187,591,264 |
| ATOM | 1.40 | -2.36% | -70.15% | 1.44 | 1.44 | 1.40 | 18,626,964 |
| AAVE | 89.06 | +0.93% | -72.33% | 88.24 | 90.20 | 88.19 | 129,099,704 |
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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