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

OranjeBTC, Brazil's largest bitcoin treasury firm, has repurchased 99,600 shares for 1.12 million reals (approximately $220,000) as it seeks to align its market price with the net asset value (NAV) of its bitcoin holdings. The firm controls 3,708 bitcoin valued at around $409 million, but it is delaying further BTC purchases. This buyback is part of a broader trend among digital asset treasury (DAT) companies, including ETHZilla, Metaplanet, Sequans, and Empery Digital, that are taking similar measures to support their stock prices amid a reduction in market value. For instance, ETHZilla is implementing a buyback plan worth $250 million, while Metaplanet announced a buyback of 75 billion yen (around $500 million) following declines in their market-to-NAV ratios. Despite these efforts, the share prices of these companies, including OranjeBTC, have experienced fluctuations, indicating challenges in the current market environment.

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