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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.