Matador Technologies recently acquired an additional 3.46 BTC, pushing its total Bitcoin reserve to 68.14 BTC as part of its strategy to bolster its digital treasury.
In addition to Bitcoin, Matador maintains significant cash reserves and physical gold holdings, aiming to hedge against inflation and diversify its asset portfolio.
Matador is not only focused on asset acquisition; it is also building a platform on Bitcoin’s network for trading digital representations of gold, set for launch in early 2025.
On Wednesday, February 5, Matador Technologies, a Canadian-based digital gold platform powered by blockchain announced that it has acquired additional 3.46 Bitcoin to increase its reserve. The firm spent a total of CAD$500,000 valued at approximately $344,257 to buy the Bitcoin.
According to an announcement, the latest batch was purchased at an average price of $99,580 including fees and other expenses. With this, the company’s total Bitcoin acquisition stands around 68.14 BTC.
Matador to Continue Buying Bitcoin
Matador began its Bitcoin acquisitions in December 2024, gradually building its crypto treasury alongside physical cash and gold. Currently, its corporate reserve includes CAD$1.8 million in cash and 2 kilograms of physical gold (valued at about CAD$287,000). The company said it is committed to expanding its portfolio with both Bitcoin and gold.
“As Matador advances its growth strategy, the Company remains committed to expanding its treasury holdings of Bitcoin and gold, leveraging blockchain technology, and delivering long-term value for stakeholders,” the company said.
“As Matador advances its growth strategy, the Company remains committed to expanding its treasury holdings of Bitcoin and gold, leveraging blockchain technology, and delivering long-term value for stakeholders,” the company .
Apart from embracing bitcoin as a strategic reserve asset, the firm is deepening its presence into the crypto industry. According to a press release in December, Matador is building an innovative platform on top of Bitcoin’s network, which will enable users to one day purchase and trade digital representations of gold.
That same month, Matador’s shares started trading on the TSX Venture Exchange in December 2024, and the company proudly operates debt-free, with all its Bitcoin holdings free and clear.
Not the First
Matador’s recent move reflects a growing trend among companies that are increasingly viewing Bitcoin as a crucial hedge and strategic reserve asset. Since MicroStrategy famously pioneered Bitcoin purchases in 2020, a number of corporate giants have followed suit.
In Canada, for example, the media and technology platform Rumble has embraced Bitcoin as part of its strategic reserves. In January, Rumble its inaugural Bitcoin purchase and revealed plans to continue building its crypto holdings. That same month, Italy’s largest bank, Intesa Sanpaolo (ISP.MI), bought its first proprietary Bitcoin worth 1 million euros (roughly $1 million). The company’s CEO Carlo Messina described the move as “a test.”
Adding to these corporate adoptions, the Czech National Bank (CNB) is allocating up to 5% of its national reserves to Bitcoin. by Governor Aleš Michl, this potential initiative could position the CNB as the first major Western central bank to hold digital assets. If approved, the investment might reach approximately €7 billion (around $7.3 billion), surpassing the CNB’s current gold reserves of €4.3 billion.