Brazilian Bitcoin reserve company OranjeBTC joins the buyback trend, suspending its BTC purchase plan.
OranjeBTC, the largest Bitcoin reserve company in Brazil, has repurchased 99,600 shares of its own stock, costing approximately $220,000 (1.12 million reais), and announced a delay in additional Bitcoin purchase plans. The company currently holds 3,708 bitcoins, worth approximately $409 million. This move is aimed at narrowing the gap between its market price and the net asset value (NAV) of Bitcoin. OranjeBTC has joined a wave of digital asset reserve companies supporting their stock prices through buybacks, including ETHZilla, Metaplanet, Sequans, and Empery Digital.
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