Brazilian OranjeBTC becomes South America’s largest bitcoin treasury
Adam Back and the Winklevoss brothers have backed the company, which plans to go public via a reverse IPO.
Brazilian company OranjeBTC has become the largest bitcoin treasury in South America after acquiring 3,650 bitcoin for $385 million.
The company, which plans to go public next month via a reverse IPO and is backed by former Bridgewater executives, Adam Back, Cameron and Tyler Winklevoss, FalconX, and Mexican billionaire Ricardo Salinas Pliego, also intends to launch a financial and bitcoin education platform.
Gui Gomes, founder and CEO of OranjeBTC, told Sherwood News that the bitcoin treasury industry “is still in its very early innings,” and while there may be some consolidation, “the bigger story is the structural trend.”
Gomes added that what sets the company apart is that it’s more than just a bitcoin balance sheet; it is creating the infrastructure, education, and community to make bitcoin mainstream in Latin America and beyond.
“Operating in Brazil gives us unique proximity to one of the most dynamic markets for digital assets, and our long-term approach emphasizes both shareholder value and regional leadership,” he said.
In other bitcoin treasury news:
Chinese company Jiuzi Holdings, a publicly traded “provider of intelligent charging infrastructure” for electric vehicles, announced it adopted a bitcoin treasury strategy, “allowing up to $1 billion deployment.”
Newly launched UK company B HODL, which started trading on the Aquis Stock Exchange on Monday after raising $20 million for its bitcoin treasury via the issuance of new shares, acquired its first 100 bitcoin. Back is also a major shareholder, with a 25.3% share.
Scilex Holding Company announced it will sell $200 million worth of its subsidiary Semnur Pharmaceuticals stock for $200 million bitcoin.
