Brazil’s OranjeBTC Joins Wave of Struggling Crypto Treasury Firms Turning to Buybacks
Brazil’s largest bitcoin treasury firm OranjeBTC has repurchased 99,600 of its own shares and announced it will delay additional BTC purchases.Brazil’s OranjeBTC Joins Wave of Struggling Crypto Treasury Firms Turning to Buybacks
The move comes as it moves to bridge the gap between its market price and the net asset value (NAV) of its bitcoin holdings. The company spent 1.12 million reals (about $220,000) in the buyback operation.
OranjeBTC, which recently listed on Brazil’s B3 exchange through a reverse merger with Intergraus, holds 3,708 bitcoin, worth roughly $409 million at current prices.
It joins a growing number of digital asset treasury (DAT) companies with large cryptocurrency holdings leaning on buybacks while their prices…
