Itaú Launches Oranje: Pioneering Bitcoin Investments in Brazil
Itaú, one of Brazil’s leading financial institutions, has allocated $210 million to launch a new venture named Oranje, focusing on the strategic accumulation of Bitcoin reserves. This move mirrors the business strategy of MicroStrategy, now rebranded as Strategy, positioning Oranje as the first public company in Latin America dedicated solely to Bitcoin.
Objectives and Investment Model
The primary objective of this exciting initiative is to build a substantial Bitcoin reserve and enhance brand presence while introducing a novel investment model tailored for the Brazilian market. With a business plan that aligns with successful practices in the crypto space, Oranje is targeting a remarkable 45% return on Bitcoin investments in its inaugural year, contingent upon successful execution of its strategies.
Financing Avenues and Benefits for Investors
Oranje intends to explore various financing avenues, similar to Strategy’s methods, including the issuance of debt and the sale of stock. Moreover, investors interested in holding Bitcoin directly will benefit from favorable tax treatment and streamlined operational processes, eliminating the need for intermediaries.
Governance and Partnerships
The governance framework of Oranje features prominent cryptocurrency experts, including Eric Weiss and Fernando Ulrich, and the initiative is backed by reputable financial entities such as Itaú Investment Bank and Pinheiro Neto Law Firm, alongside one of the top four auditing firms. This ambitious project marks a notable advancement for the intersection of traditional banking and cryptocurrency in Brazil.
