Brazilian Bitcoin Treasury OranjeBTC Buys Back Stock Instead of BTC

OranjeBTC, Brazil's largest Bitcoin treasury, has announced a cessation of Bitcoin purchases to focus on buying back its own shares shortly after going public on October 7. The company holds 3,708 BTC, valued at approximately $408.3 million. Despite the current market conditions, with Bitcoin trading 13% below its all-time high, OranjeBTC aims to increase shareholder value. This decision reflects a broader strategy of evaluating capital allocation opportunities, which includes direct Bitcoin purchases or share repurchases when shares are undervalued. Concerns have emerged regarding the efficacy of this strategy amidst Bitcoin's fluctuating price, as the company’s shares were trading below net asset value, suggesting a discount.

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