Brazil's Bitcoin treasury firm, OranjeBTC, has made a significant move by purchasing 3,650 BTC for approximately $385 million, establishing itself as the largest Bitcoin treasury company in Latin America. This acquisition, reported by Cointelegraph, underscores growing institutional confidence in Bitcoin as a long-term store of value and hedge against inflation, mirroring trends set by global firms like MicroStrategy.
Concurrently, OranjeBTC is set to go public on Brazil's B3 exchange in early October via a reverse merger with Intergraus, a listed prep-course provider. Once completed, Oranje will assume Intergraus' listing with an 85% free float, making it Brazil's largest publicly-traded Bitcoin treasury firm. The company's reserves, now over $400 million in BTC, rank it among the top 25 corporate Bitcoin holders globally, and it aims to expand aggressively.
The venture is backed by high-profile investors, including Cameron and Tyler Winklevoss, Bitcoin pioneer Adam Back, trading platform FalconX, and Mexican billionaire Ricardo Salinas Pliego, with institutional support from Off the Chain Capital and ParaFi Capital. This move is particularly impactful in Latin America, where economic instability and high inflation make Bitcoin an attractive alternative for businesses and individuals.
Despite risks such as Bitcoin's volatility and regulatory uncertainties, OranjeBTC's bold step could inspire wider corporate adoption in the region. The company also plans to launch a financial education platform focused on Bitcoin, leveraging Intergraus' infrastructure to promote crypto literacy.