Public Canadian Firm Swaps CAD for BTC: Matador Technologies Joins the Bitcoin Treasury Revolution

According to an announcement unveiled on Monday, Matador Technologies Inc., a Canadian publicly listed outfit, declared it’s adding bitcoin to its balance sheet.

Matador Technologies Aims to ‘Future-Proof’ Its Treasury

Matador, a crypto venture launched in 2014, trades on the TSX Venture Exchange with the ticker MATA, and will now keep bitcoin (BTC) in its financial reserves. The company is currently crafting a unique app for buying and selling gold. The announcement specified that the board of directors has green-lit this bitcoin strategy, alongside the collection of U.S. dollar-denominated assets.

Matador claims this step is “part of its long-term capital preservation strategy” and points to the perils linked with the Canadian dollars on its ledger. Canadian Prime Minister Justin Trudeau’s policies and economic choices have been long criticized for fueling excessive government outlays, escalating debt, alongside a dreadful housing crisis and inflation.

“Matador plans to front-load an initial allocation of $4.5 million into bitcoin in the month of December 2024 and will continue to explore additional purchases at the board level via measured buying programs,” the company noted in its release issued on Dec. 23.

The company joins a growing list of corporate entities like Microstrategy, Metaplanet, Semler Scientific, MARA Holdings, and more choosing to keep BTC in treasuries. “Matador’s Board and management believe in using Bitcoin to future-proof our treasury,” Sunny Ray, the President of Matador remarked. “This step also supports our mission to explore using Bitcoin as a platform for our gold-based products,” Ray added.

Current data from bitcointreasuries.net indicates that 72 public companies hold BTC on their balance sheets. Out of all the firms, they hold nearly 600,000 BTC, and Microstratgy commands 444,262 BTC after accumulating 254,762 this past year.

Matador Technologies’ move to allocate $4.5 million into bitcoin reflects a strategic shift toward diversification and resilience amid economic uncertainties. By aligning with the growing trend of BTC adoption among public companies, Matador positions hope to position itself as both a forward-thinking treasury manager and a potential innovator in integrating digital assets with traditional commodities like gold. Whether Matador’s bold move pays off, along with similar bets by other companies, is a story only the future can reveal.