A unique event has taken place on Brazil’s B3 stock exchange, where a company has gone public as a Bitcoin-holding entity rather than a traditional product-based firm. Orange BTC, founded by former Bridgewater Associates executive Guilherme Gomes, has commenced trading on the São Paulo-based B3, the financial hub of Latin America. Supported by prominent global crypto investors, the company holds 3,675 Bitcoins, making it the largest corporate Bitcoin holder in the region. At current prices, its assets exceed $444 million, significantly surpassing Brazil’s second-largest fintech Bitcoin holder, Melios, which owns 605 Bitcoins and was the first Brazilian company to adopt a Bitcoin treasury strategy last year.
Orange BTC’s model mirrors U.S. strategies by raising capital through convertible debt issuance to purchase Bitcoin. Earlier this year, Brazil’s largest bank, Itaú, invested $210 million via its investment arm Itaú BBA, signaling plans to establish the company’s Bitcoin reserves as a long-term strategic asset. This funding round also included notable investors such as Tyler and Cameron Winklevoss, Mexican billionaire Ricardo Salinas, FalconX, and Blockstream’s Adam Back. Additionally, U.S. funds Off The Chain Capital and Parafi Capital participated in the investment.
Guilherme Gomes emphasizes that Orange BTC’s vision extends beyond financial gains; the company is launching an educational platform aimed at shareholders and institutional investors to deepen their understanding of Bitcoin’s financial properties. This platform will provide Latin America’s next generation of investors with foundational knowledge about money, real assets, and Bitcoin’s operational mechanics. Orange BTC’s listing is structured as a reverse IPO through a merger with Intragroos, a company already listed on B3. Post-merger, approximately 85% of shares will be publicly available, offering both institutional and retail investors direct access to a company whose sole underlying asset is a Bitcoin reserve.
