OranjeBTC, the Brazilian-listed company trading under the ticker OBTC3 on the B3 exchange, just added another 20 Bitcoin to its corporate treasury. The purchase brings the firm’s total stash to 3,762 $BTC, cementing its status as Latin America’s largest public corporate Bitcoin holder.
The 20 coins cost approximately $1.506 million, which works out to an average price of $75,346 per Bitcoin. That’s a meaningful discount to the company’s overall average cost basis of roughly $105,085 per $BTC across its entire position, which has been accumulated for about $395.33 million total.
The strategy behind the stack
This wasn’t just a Bitcoin buy. OranjeBTC simultaneously repurchased 289,100 of its own shares, a move designed to concentrate Bitcoin exposure on a per-share basis. Every share outstanding now represents a slightly larger claim on the company’s Bitcoin reserves.
cryptobriefing.com