Key Points
- Matador Technologies, a Canadian digital gold platform, has purchased an additional 3.46 Bitcoin.
- The company’s total Bitcoin holdings now stand at approximately 68.14 BTC.
Matador Technologies, a Canadian-based firm operating in the digital gold space, announced on Wednesday, February 5, that it has expanded its Bitcoin holdings by acquiring an additional 3.46 Bitcoin.
The company spent CAD$500,000, which is approximately $344,257, to make this purchase.
Additional Details on the Purchase
The latest acquisition was made at an average price of $99,580, including fees and other expenses. This purchase brings Matador’s total Bitcoin holdings to about 68.14 BTC.
Matador started buying Bitcoin in December 2024, gradually building its crypto treasury alongside physical cash and gold. The company’s corporate reserve currently includes CAD$1.8 million in cash and 2 kilograms of physical gold, valued at approximately CAD$287,000.
The firm is committed to expanding its portfolio with both Bitcoin and gold. As part of its growth strategy, Matador aims to increase its treasury holdings of Bitcoin and gold, leverage blockchain technology, and deliver long-term value for stakeholders.
Matador’s Expansion into the Crypto Industry
In addition to treating Bitcoin as a strategic reserve asset, Matador is deepening its presence in the crypto industry. The firm is developing an innovative platform on the Bitcoin network that will allow users to purchase and trade digital representations of gold.
Matador’s shares began trading on the TSX Venture Exchange in December 2024. The company operates debt-free, with all its Bitcoin holdings free and clear.
Matador’s recent acquisition reflects a broader trend among companies viewing Bitcoin as a crucial hedge and strategic reserve asset. This trend was pioneered by MicroStrategy in 2020, and since then, several corporate giants have followed suit.
For instance, Rumble, a media and technology platform in Canada, has embraced Bitcoin as part of its strategic reserves. In January, Rumble announced its inaugural Bitcoin purchase and revealed plans to continue building its crypto holdings.
Similarly, Intesa Sanpaolo, Italy’s largest bank, made its first proprietary Bitcoin purchase worth 1 million euros (approximately $1 million). The bank’s CEO, Carlo Messina, described the move as a “test.”
Furthermore, the Czech National Bank (CNB) is considering allocating up to 5% of its national reserves to Bitcoin. This initiative, led by Governor Aleš Michl, could make the CNB the first major Western central bank to hold digital assets. If approved, the investment could reach approximately €7 billion (around $7.3 billion), surpassing the CNB’s current gold reserves of €4.3 billion.
