Brazil's largest commercial bank Itau announced an investment of $210 million to establish a bitcoin reserve company called Oranje, which will become the first listed company in Latin America to focus on bitcoin. It plans to issue proceeds raised through bonds and stocks, and aims to achieve a 45% return on bitcoin in the first year. Oranje will be led by former Swan Bitcoin executive Guilherme Gomes as CEO and Bahema's Guilherme Ferreira as CFO. The project is backed by institutions such as ItaúBBA and Pinheiro Neto Advogados, and its business model is similar to Strategy, founded by Michael Saylor.