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

OranjeBTC, Brazil's largest bitcoin treasury firm, has announced a buyback of 99,600 of its shares for 1.12 million reals (approximately $220,000). This decision comes as the company seeks to align its market price with the net asset value (NAV) of its bitcoin holdings, which total 3,708 BTC valued at around $409 million. By delaying further BTC acquisitions, OranjeBTC joins a broader trend among digital asset treasury companies like ETHZilla and Metaplanet, which have also opted for buybacks as their market-to-NAV ratios remain low. ETHZilla initiated a $250 million buyback plan after its mNAV dropped to 0.62, while Metaplanet committed 75 billion yen (about $500 million) to similar efforts. Despite the buyback activities, shares of these companies have seen declines, reflecting ongoing market volatility. OranjeBTC's shares closed up 0.3% in the latest trading session on Brazil’s B3 exchange.

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