Brazil’s B3 stock exchange made headlines today as it welcomed a new player, OranjeBTC, a firm that is not reliant on traditional products but has entered the public arena mainly for its Bitcoin holdings. Founded by Guilherme Gomes, a former executive at Bridgewater Associates, OranjeBTC has positioned itself at the forefront of corporate Bitcoin investment in Latin America.
The company made its trading debut holding a substantial 3,675 BTC, instantly establishing itself as the region’s largest corporate Bitcoin holder. With the current value of these holdings surpassing $444 million, OranjeBTC outstrips Brazilian fintech Méliuz, which previously held the title by accumulating 605 BTC as part of its treasury strategy last year.
OranjeBTC’s business model draws inspiration from the practices of cryptocurrency firms in the United States. The strategy involves issuing convertible debt to raise capital, which is then allocated towards acquiring Bitcoin. Earlier this year, the company marked a significant milestone by securing a $210 million investment from Itaú BBA, the investment arm of Brazil’s largest bank, which endorsed its Bitcoin reserves as a strategic asset for the long term.
This latest financing round attracted prominent investors from the cryptocurrency space, including Tyler and Cameron Winklevoss, Mexican billionaire Ricardo Salinas, FalconX, and Adam Back of Blockstream. U.S. investment firms Off the Chain Capital and ParaFi Capital also took part in this significant funding effort.
Beyond just accumulating Bitcoin, Gomes has emphasized a broader vision for OranjeBTC. The firm plans to launch an educational platform aimed at enabling shareholders and institutional investors to better understand Bitcoin’s monetary properties. Gomes conveyed to WIRED en Español that the initiative aims to serve as an “information center” to help Brazilians and other Latin Americans grasp the fundamentals of money, the significance of tangible assets, and the workings of Bitcoin.
The company’s entry into the public markets utilizes a reverse IPO model by merging with Intergraus, an existing entity listed on B3. Following this transaction, approximately 85% of shares will be available for trading, providing both institutional and retail investors with an opportunity to directly invest in a company that primarily focuses on Bitcoin accumulation.
