Brazil's Largest Bank Itau to Fund New Bitcoin Company

Brazil’s Largest Bank Itau to Fund New Bitcoin Company

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Brazil’s largest bank, Itau Unibanco, is reportedly funding a new Bitcoin Company, Oranje, the country’s “microstrategy”.

The largest private bank in Brazil, Itau Unibanco, is reportedly joining the institutional Bitcoin race. According to recent reports circulating, the alleged microstrategy of Brazil is to be named Oranje. Additionally, the newborn company plans to make its first step into the crypto market with a $210 million BTC acquisition. According to crypto analyst and researcher Vivek on X (formerly Twitter):

BRAZIL’S LARGEST BANK ITAU TO FUND NEW BITCOIN TREASURY COMPANY ORANJE THEY WILL BUY $210 MILLION #BITCOIN

While official confirmation from the bank remains pending, Itau’s move to purchase Bitcoin signals heightened investor demand and Fear of missing out (FOMO) among traditional financial players. This could be indicative of BTC’s resilience to solidify the name, “digital gold”. Itau could be setting the standards for other banks globally.

The market is likely to experience a spike in institutional buys as large investors position themselves in the digital assets market.

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Denis Mwirigi

Denis is an experienced blockchain enthusiast and researcher. He is passionate about the opportunities and possibilities afforded by the advancement of this new technology. With a background in engineering, he blends technical expertise with a deep interest in foreign exchange, financial journalism, and technological trends.

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