Brazil's largest commercial bank Itaú announces the establishment of Oranje, a Bitcoin reserve company, with an estimated investment of US$210 million
Brazil's largest commercial bank Itaú announced an investment of 210 million US dollars to establish a Bitcoin reserve company named Oranje, which will become the first listed company in Latin America dedicated to Bitcoin. The company plans to raise funds through issuing bonds and stocks, aiming to achieve a 45% Bitcoin return rate in the first year. Oranje will be led by former Swan Bitcoin executive Guilherme Gomes as CEO, with Bahema's Guilherme Ferreira as CFO. The project has received support from institutions such as Itaú BBA, Pinheiro Neto Advogados, and its business model is similar to the one established by Michael Saylor.
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