According to a Matador Technologies announcement on December 23, PANews reports that the company's board of directors unanimously approved the addition of Bitcoin and US dollar assets to the corporate treasury as part of a long-term capital preservation strategy. To mitigate the risk of Canadian currency depreciation, Matador plans to initially invest $4.5 million in Bitcoin in December 2024 and convert most of its cash assets from Canadian dollars to US dollars. At the same time, the company plans to use Bitcoin as the foundational technology for its digital gold platform, combining it with physical gold reserves to create a trustworthy digital gold product. Matador will finalize the platform technology in the first quarter of 2025 and launch the product to a limited user group.
Matador Technologies Inc. is a technology company headquartered in Toronto, Canada, focused on modernizing the experience of buying, storing, and selling gold through its mobile application.
