PANews reported on December 23 that according to an announcement by Matador Technologies, 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 reduce the risk of Canadian currency depreciation, Matador plans to invest $4.5 million in the purchase of 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 underlying technology of its digital gold platform, combined with physical gold reserves, to create a reliable 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 Toronto, Canada-based technology company focused on modernizing the gold buying, storing, and selling experience through its mobile applications.
