PANews reported on April 29 that according to Beincrypto, Itaú, one of the largest banks in Brazil, announced an initial investment of US$210 million to establish Oranje, a company that will specialize in the accumulation of strategic Bitcoin reserves. This new initiative follows 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 public company in Latin America dedicated to Bitcoin. The project aims to build a strong Bitcoin fund reserve, expand brand influence, and provide an innovative investment model for the Brazilian market. If the business plan is implemented smoothly, the first year's goal is to achieve a 45% return on Bitcoin investment. Oranje plans to adopt financing strategies such as debt issuance and stock sales, which is similar to Strategy's approach. In addition, the company promises to provide tax and operational convenience for investors who want to hold Bitcoin directly (without going through an intermediary). Its governance team includes well-known crypto figures Eric Weiss and Fernando Ulrich, and is supported by Itaú Investment Bank, Pinheiro Neto Law Firm and one of the four major auditing agencies.