Matador Technologies Acquires 3.46 Bitcoin for CAD$500,000
On February 5, Matador Technologies, a Canadian digital gold platform, acquired an additional 3.46 Bitcoin for CAD$500,000 (approximately $344,257), raising its total holdings to about 68.14 BTC. The recent purchase was made at an average price of $99,580, including fees.
Future Plans
- Matador began acquiring Bitcoin in December 2024 and plans to continue expanding its crypto treasury.
- The company currently holds CAD$1.8 million in cash and 2 kilograms of physical gold valued around CAD$287,000.
- Matador aims to leverage blockchain technology to enhance its offerings.
“The Company remains committed to expanding its treasury holdings of Bitcoin and gold,” stated Matador.
In December 2024, Matador's shares started trading on the TSX Venture Exchange, operating debt-free with all Bitcoin holdings unencumbered.
Market Trends
- Other companies are increasingly adopting Bitcoin as a strategic reserve asset.
- Rumble, a Canadian media platform, recently announced its first Bitcoin purchase.
- Intesa Sanpaolo, Italy’s largest bank, purchased €1 million worth of Bitcoin as part of a test.
- The Czech National Bank is considering allocating up to 5% of national reserves to Bitcoin, potentially amounting to €7 billion.