Matador Technologies Inc. has increased its Bitcoin reserves by purchasing 3.46 BTC for CAD$500,000. The company's total Bitcoin holdings now stand at 68.14 units.
Strengthening Financial Stability With Bitcoin
Matador stated the new Bitcoin was bought at an average price of USD$99,580 per coin, including fees. The company remains debt-free, holding all its Bitcoin outright. Aside from Bitcoin, Matador has CAD$1.8 million in cash reserves and 2 kilograms of physical gold.
Expanding Digital Gold Strategy
In January, Matador announced the development of a digital gold platform set to launch in Q1 2025. This platform will leverage blockchain technology to enhance its investment strategy. Matador CEO Deven Soni stated that the company has been working on 'making gold great again' since 2021.
Technology Giants Continue to Bet Big on Bitcoin
Last month, Metaplanet announced its intention to acquire 10,000 Bitcoin by the end of 2025. Semler Scientific recently purchased 871 Bitcoin for $88.5 million. MicroStrategy is also doubling down on its Bitcoin strategy, planning to raise $563 million through a stock offering.
Companies are increasingly trusting Bitcoin, adding it to their portfolios, indicating a shift towards digital assets.
