Golden Finance reports that Brazil's largest Bitcoin reserve company, OranjeBTC, has repurchased 99,600 shares of its own stock, costing approximately $220,000 (1.12 million reais), and announced that it will delay additional Bitcoin purchase plans. The company currently holds 3,708 Bitcoins, valued at approximately $409 million. This move aims to narrow the gap between its market price and the net asset value (NAV) of its Bitcoin assets.
OranjeBTC has joined a wave of digital asset reserve companies that are supporting stock prices through buybacks, including ETHZilla, Metaplanet, Sequans, and Empery Digital.