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

Brazil’s OranjeBTC, the largest bitcoin treasury firm in the country, has repurchased 99,600 of its shares for 1.12 million reals (approximately $220,000) and announced a delay in further BTC purchases. This decision is part of a broader trend among digital asset treasury firms to bolster stock prices amidst declining market conditions and significant discrepancies between market price and net asset value (NAV) of bitcoin holdings. OranjeBTC, which holds 3,708 bitcoin valued at around $409 million, seeks to address this valuation gap. Other notable companies, such as ETHZilla and Metaplanet, have also implemented buyback programs to stabilize their stock prices, reflecting a challenging period for firms with substantial cryptocurrency holdings. Despite the stock buybacks, other firms have experienced share price drops, indicating ongoing volatility in the digital asset market.

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