Brazil’s OranjeBTC Joins Wave of Struggling Crypto Treasury Firms Turning to Buybacks

OranjeBTC, Brazil's largest bitcoin treasury firm, has repurchased 99,600 of its own shares for 1.12 million reals ($220,000) amid a broader trend of digital asset treasury companies seeking buybacks to bolster their stock prices. This decision was made in light of the company's bitcoin holdings, which are valued at approximately $409 million. OranjeBTC is also delaying further bitcoin purchases to address the disparity between its market price and the net asset value of its assets. Other companies in the sector, such as ETHZilla and Metaplanet, have similarly engaged in buybacks after experiencing declines in their market-to-Net Asset Value ratios. Despite the buyback, OranjeBTC’s shares saw a minor increase of 0.3% in the last trading session, contrasting with declines seen by other firms in the market. This strategic move reflects an ongoing trend among struggling cryptocurrency firms navigating discounted stock prices.

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