Startup becomes the first Brazilian company to invest 15% of its cash in Bitcoin

Charlie Taylor

The movements of Tesla, MicroStrategy and Square are already beginning to influence Brazilian entrepreneurs. On Friday (5) the financial services startup Yubb became the first company in Brazil to publicly declare that it invests part of its cash in Bitcoin. As Yubb president Bernardo Pascowitch said in an interview with Exame, the company went through a financial restructuring in 2020, when it started to reserve part of the cash to diversify into different investments. The rationale behind the adoption of Bitcoin was based on the international movement and the distrust in the value of fiat currencies, with the massive printing of money by major central banks in the world.

“We see an international movement of more and more global investors starting to trust crypto. And there is a very great potential in 2022 for the devaluation of traditional currencies, be it for economic reasons, or for the unbridled impression of the dollar and the euro ”, he explained.

Bitcoin and other cryptocurrencies were left with 15% of space in the treasury reserves, while the shares will represent 20% and the rest should remain in real in the fixed income (including daily liquidity investments for emergency reserve).

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The main cryptography used as a reserve is Bitcoin (BTC), but Ether (ETH) has also received its space. “For investments by companies in cryptocurrencies, I would not go beyond bitcoin and ethereum. The two already have gigantic volatility. ”, Said Pascowitch, who revealed that he diversifies into even more crypts as an individual. Regarding the 20% exposure in stocks, Yubb opted for S&P 500 index ETFs, because they are already diversified products and choosing stocks individually would take too much time for the company, which must focus on its own product, explained Pascowitch.See also: Square and Microstrategy double bet on Bitcoin and buy even more

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