Brazil's largest commercial bank, Itaú, has announced the establishment of a Bitcoin reserve company named Oranje, with plans to invest $210 million.

Blockbeats
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BlockBeats News, April 29th, According to Beincrypto, Brazil's largest commercial bank Itaú announced a $210 million investment to establish a Bitcoin reserve company named Oranje, which will become the first publicly traded company in Latin America focused on Bitcoin. The company plans to raise funds through issuing bonds and stocks, aiming to achieve a 45% Bitcoin return in the first year.

Oranje will be led by former Swan Bitcoin executive Guilherme Gomes as CEO and Bahema's Guilherme Ferreira as CFO. The project has received support from institutions such as Itaú BBA and Pinheiro Neto Advogados, and its business model is similar to the Strategy established by Michael Saylor.

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