Matador Technologies, a Canadian real-world asset tokenization company, has announced plans to integrate Bitcoin into its treasury. the The decision, which was unanimously approved by the company’s Board of Directors, aims to enhance long-term capital preservationaccording to A Final statement.
The company plans to allocate $4.5 million inside Bitcoin this month Part of Initial investment, with additional purchases taken into account through measured purchasing programmes.
Along with Bitcoin, Matador intends to convert Majority From its cash reserves from Canadian dollars to US dollars, citing concerns about Canada’s economic vulnerabilities.
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Matador leverages Bitcoin to future-proof its treasury
Sunny Rai, president of Matador, confirmed the move As a method In order to “future-proof” the company’s treasury while aligning with its mission of developing blockchain-based gold products.
“Matador’s board and management believe in using Bitcoin to protect our treasury in the future. This move also supports our mission to explore the use of Bitcoin as a platform for our gold-based products.
Matador Bitcoin Vault It is expected To support the launch of its digital gold platform next year. This innovative platform will allow users to purchase, commerce, And storing premium gold backed by physical reserves.
Matador joins a growing list of companies leveraging Bitcoin as a strategic reserve. earlier In December, biopharmaceutical company Quantum BioPharma revealed it had purchased $1 million worth of Bitcoin to diversify its treasury.
Only in:
Matador Technologies Inc. agreed. The publicly traded company agreed to buy $4.5 million worth of shares #Bitcoin As a strategic reserve asset. pic.twitter.com/WzlGTgwjG7
— Bitcoin Magazine (@BitcoinMagazine) December 23, 2024
Likewise, Canadian health company Jiva Technologies and video-sharing platform Rumble recently agreed to plans to allocate significant portions of their cash reserves to Bitcoin.
“For Matador’s focus on creating a product that embodies trust, durability and value, we expect Bitcoin to be the platform of choice,” said Devin Soni, CEO and Chairman of Matador.
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The United States is considering adding Bitcoin to reserves
It has become Ohio State Newest US state to consider Adding Bitcoin to Treasury reserves, after a new bill was introduced by House Republican Leader Derek Mirren.
This initiative reflects recent moves by the states of Texas and Pennsylvania to create Bitcoin reserves.
On December 12, 2024, Texas Representative Giovanni Capriglione Texas Strategic Reserve Act introducedwhich proposes that the state comptroller hold Bitcoin as a reserve asset for at least five years.
Pennsylvania made a similar move in November, with Rep. Mike Cabell proposing a bill to allow its treasury to allocate up to 10% of its balance sheet in bitcoin, citing the asset’s potential to hedge against economic uncertainty.
The growing momentum around nationwide Bitcoin reserve initiatives comes amid renewed interest in an idea A federal Bitcoin reserve, a concept floated by former President Donald Trump after his re-election campaign.
Recently, Trump He hinted at plans to create a strategic bitcoin reserve in the United States similar to the country’s strategic oil reserve. Trump said in an interview with CNBC:“We’re going to do something great in crypto because we don’t want China or anyone else — not just China but others adopting it — and we want to be at the forefront.”
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