Canadian real-world asset tokenization firm Matador Technologies has announced the addition of Bitcoin to its treasury in December.
Decision to Include Bitcoin
On December 23, Matador Technologies announced that its board of directors had unanimously approved the addition of Bitcoin and USD-denominated assets to the company's treasury as part of a long-term capital preservation strategy. The company identified risks associated with its current treasury, primarily denominated in Canadian dollars. Canada's reliance on oil exports and growing national debt raised concerns about potential devaluation and loss of purchasing power for Canadian-denominated assets.
Bitcoin Utilization Strategy
Matador plans to front-load an initial allocation of $4.5 million into Bitcoin and will continue to explore additional purchases at the board level through measured buying programs. It also plans to convert the majority of its cash balance sheet from Canadian dollars to US dollars.
Development of Digital Gold Platform
The company stated that a Bitcoin treasury would support the development and launch of its digital gold platform next year. This platform is a blockchain-based system that will enable users to buy, trade, and store tokenized gold backed by physical reserves.
Matador has joined a growing number of companies adding Bitcoin as a strategic reserve to diversify their assets, underscoring the increasing corporate interest in cryptocurrency as a capital preservation tool.
