OranjeBTC, which became the largest bitcoin reserve company in Latam, is set to debut on Brazil’s B3 on Oct. 7. The corporation, which will streamline its listing through a reverse IPO, aims to lead institutional investors’ shift into BTC.
OranjeBTC to Debut as Largest Bitcoin Treasury Company in Brazil and Latin America
Startups from all over the world are rushing to follow the bitcoin treasury company trend, and OranjeBTC is on the verge of pioneering the movement in Brazil. Even when Meliuz, a Brazilian cashback company, surged as the first national company to promote a bitcoin reserve shift, OranjeBTC is a firm whose main focus will be to amass bitcoin reserves and generate revenue through them.
OranjeBTC, which already holds 3,650 BTC as part of its initial bitcoin cache, recently announced that it will start trading on B3, the main Brazilian stock exchange, on October 7th. Previously, it had revealed that it would achieve this milestone by leveraging the reverse Initial Public Offering (IPO) figure with Intergraus, a school chain company, trading with the OBTC3 ticker.
Analysts remark that this IPO will be relevant to determine the actual demand for a local bitcoin-only business in a market that already has a presence of foreign BTC-linked investment options. Meliuz’s stock prices rose on the news of its bitcoin pivot back in May, but even after announcing good results, it has failed to rise to those levels again.
Guilherme Gomes, CEO of OranjeBTC and a former Bridgewater Associates executive, believes that the company can serve as a conduit for investors to proxy into bitcoin through stock, an idea that could be useful for some. “ Bitcoin will change financial systems as we know it, and will reshape markets. Our main focus is bitcoin at the highest level,” he stressed.
OranjeBTC invested nearly $385 million in BTC with the backing of Gemini’s Cameron and Tyler Winklevoss, bitcoiner Adam Back, FalconX, and Mexican millionaire Ricardo Salinas. The latest bitcoin rise has already put it in green numbers.
Source:Lovinghananews.com
