The company that imported the concept of Strategy to Brazil

Source: Exame Original Title: The company that imported the concept of Strategy to Brazil Original Link: Imagine a company whose main asset is not a factory, nor a portfolio of real estate, nor a franchise network, but rather 3,650 units of bitcoin held in treasury. This company exists: it is called OranjeBTC, a Brazilian “bitcoin treasury company” that went public on the B3.

OranjeBTC was created to have as its core business the custody of bitcoin and education about bitcoin. According to the CEO, Guilherme Gomes, the company will combine two fronts:

1. Recurring bitcoin purchases for treasury, in line with the Strategy strategy;
2. Education in cryptocurrencies – which is why the acquisition of a traditional course company, Intergraus, as a vehicle for listing via “reverse IPO”.

The movement of OranjeBTC draws attention for its boldness, but it also raises doubts. The company fills a gap by allowing Brazilian investors to have direct exposure to bitcoin via the stock exchange, something still rare in the local market. The narrative of being a company with a 100% bitcoin treasury has marketing appeal and can attract media and investor attention, especially in a country that is still crawling in financial education about crypto.

But the risk is proportional to the charm: by basing all its assets on a highly volatile asset, OranjeBTC becomes a hostage to the bitcoin-dollar cycle. Furthermore, its business model still seems undefined; it is unclear how the combination of “education and treasury” translates into sustainable profit, nor whether the company will be able to differentiate itself in an environment where regulation and competition are evolving rapidly.

On the other hand, its listing may represent an important milestone: it democratizes access to crypto assets in Brazil, creates a new type of company for the capital market, and can boost the level of knowledge about the sector.

I would bet that success depends on three key variables:

Treasury discipline: it doesn't help to buy bitcoin when it's expensive or to stop when it's cheap. A treasury company needs to be almost immune to “timing”.

Monetization model for education: If it's just marketing “learn bitcoin”, without scale or revenue, it's not worth it. It needs to convert into subscriptions, services, certifications, maybe B2B, partnerships.

Transparency and governance: As many crypto companies fail in governance, this will be a competitive advantage. If audits, reserves, and mitigated risks can be seen, great. If it remains opaque, it is a risk.

OranjeBTC is Brazil taking seriously the logic that: the company stops being just a company and becomes a transparent bitcoin-wrapper in the capital market. This can open doors for local investors – but not without risks. Whatever happens, the fact that we see a company 100% focused on bitcoin listing in Brazil is a strong symbolic sign: the future of finance is in motion and if you weren't paying attention, now might be the time to take notice.