SAO PAULO, March 6 (Reuters) - Brazilian fintech Meliuz

said on Thursday its board of directors had approved

a new treasury strategy allowing the company to allocate

resources and make investments in bitcoin as it seeks

"long-term" returns.

The new strategy allows up to 10% of Meliuz's cash to be

allocated in bitcoin, the firm said in a securities filing,

adding it had already purchased 45.72 bitcoin for about $4.1

million.

The policy might be expanded in the future as the board has

also requested that the firm conduct a "detailed analysis" on

the new strategy, including "the adoption of bitcoin as the main

strategic asset of our treasury," Meliuz said.