Brazilian banking giant Ita ú invests $210 million to establish Oranje company, engaged in strategic reserve accumulation of Bitcoin

According to Beincrypto, Ita ú, one of Brazil's largest banks, announced an initial investment of $210 million to establish Oranje, a company dedicated to strategic reserve accumulation of Bitcoin. This new initiative imitates the business model of Strategy (formerly MicroStrategy). The project aims to create a strong BTC reserve, expand the brand, and provide a new investment model in Brazil. Oranje will become the first publicly traded company in Latin America to focus on Bitcoin. The project aims to build a strong reserve of Bitcoin funds, expand brand influence, and provide innovative investment models for the Brazilian market. If the business plan is successfully implemented, the first year goal is to achieve a 45% return on investment in Bitcoin. Oranje plans to adopt financing strategies such as debt issuance and stock sales, similar to the approach taken by Strategy Company. In addition, the company promises to provide tax and operational convenience for investors who wish to hold Bitcoin directly (without intermediaries). Its governance team includes well-known crypto figures Eric Weiss and Fernando Ulrich, and is supported by Itau Investment Bank, Pinheiro Neto Law Firm, and one of the four major audit firms.