{"id":31085,"date":"2024-12-25T11:11:49","date_gmt":"2024-12-25T11:11:49","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=31085"},"modified":"2024-12-25T11:11:49","modified_gmt":"2024-12-25T11:11:49","slug":"canadian-rwa-tokenization-firm-matador-technologies-adds-bitcoin-to-its-treasury","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=31085","title":{"rendered":"Canadian RWA Tokenization Firm Matador Technologies Adds Bitcoin To Its Treasury"},"content":{"rendered":"

Matador Technologies, a Canadian real-world asset tokenization firm, has announced plans to incorporate Bitcoin into its treasury. <\/span>The<\/span> decision, approved unanimously by the company\u2019s board, aims to bolster long-term capital preservation<\/span>, according to a <\/span>recent statement<\/span><\/a>.<\/span><\/p>\n

The firm plans to allocate $4.5 million <\/span>into<\/span> Bitcoin this month as <\/span>part of<\/span> an initial investment, with additional purchases to be considered through measured buying programs.<\/span><\/p>\n

Alongside Bitcoin, Matador intends to convert <\/span>the majority<\/span> of its cash reserves from Canadian dollars to US dollars, citing concerns over Canada\u2019s economic vulnerabilities.<\/span><\/p>\n

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Matador Taps Bitcoin to Future-Proof its Treasury<\/span><\/h2>\n

Sunny Ray, Matador\u2019s president, emphasized the move <\/span>as a way<\/span> to \u201cfuture-proof\u201d the company\u2019s treasury while aligning with its mission to develop blockchain-based gold products. <\/span><\/p>\n

\u201cMatador\u2019s Board and management believe in using Bitcoin to future-proof our treasury. This step also supports our mission to explore using Bitcoin as a platform for our gold-based products.\u201d<\/span><\/p>\n

Matador\u2019s Bitcoin treasury <\/span>is expected<\/span> to support the launch of its digital gold platform next year. This innovative platform will allow users to buy, <\/span>trade,<\/span> and store tokenized gold backed by physical reserves.<\/span><\/p>\n

Matador joins a growing list of companies leveraging Bitcoin as a strategic reserve. <\/span>Earlier in<\/span> December, biopharmaceutical firm Quantum BioPharma disclosed a $1 million Bitcoin purchase to diversify its treasury. <\/span><\/p>\n

JUST IN: Publicly traded Matador Technologies Inc. approves to purchase $4.5 million #bitcoin<\/a> as a strategic reserve asset. pic.twitter.com\/WzlGTgwjG7<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) December 23, 2024<\/a><\/p>\n\n

Similarly, Canadian wellness company Jiva Technologies and video-sharing platform Rumble recently approved plans to allocate significant portions of their cash reserves to Bitcoin.<\/span><\/p>\n

\u201cFor Matador\u2019s focus on creating a product that exemplifies trust, permanence, and value, we expect Bitcoin to be the platform of choice,\u201d said Deven Soni, CEO and Chairman of Matador.<\/span><\/p>\n

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US\u00a0States Consider Adding Bitcoin To Reserves<\/span><\/h2>\n

Ohio has become\u00a0<\/span>the latest\u00a0US\u00a0state to consider<\/span><\/a>\u00a0adding Bitcoin to its treasury reserves, following the introduction of a new bill by House Republican leader Derek Merrin.<\/span><\/p>\n

The initiative mirrors recent moves by Texas and Pennsylvania to establish Bitcoin reserves.<\/span><\/p>\n

On 12 December 2024, Texas Representative Giovanni Capriglione\u00a0<\/span>introduced the Texas Strategic Bitcoin Reserve Act<\/span><\/a>, which proposes that the state comptroller hold Bitcoin as a reserve asset for at least five years.<\/span><\/p>\n

Pennsylvania took a similar step in November, with Representative Mike Cabell proposing a bill to allow its treasury to allocate up to 10% of its balance sheet in Bitcoin, citing the asset\u2019s potential to hedge against economic uncertainty.<\/span><\/p>\n

The growing momentum around state-level Bitcoin reserve initiatives comes amid renewed interest in\u00a0<\/span>the idea of<\/span>\u00a0a federal Bitcoin reserve, a concept floated by former President Donald Trump following his re-election campaign.<\/span><\/p>\n

Just recently, Trump\u00a0<\/span>hinted at plans<\/a>\u00a0for a US Bitcoin strategic reserve akin to the nation\u2019s strategic oil reserve. Speaking to CNBC, Trump declared, \u201cWe\u2019re going to do something great with crypto because we don\u2019t want China or anybody else \u2013 not just China but others are embracing it \u2013 and we want to be the head.\u201d<\/span><\/p>\n

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The post Canadian RWA Tokenization Firm Matador Technologies Adds Bitcoin To Its Treasury<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Matador Technologies, a Canadian real-world asset tokenization firm, has announced plans to incorporate Bitcoin into its treasury. The decision, approved unanimously by the company\u2019s board, aims to bolster long-term capital preservation, according to a recent statement. The firm plans to allocate $4.5 million into Bitcoin this month as part of an initial investment, with additional […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31085","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31085"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31085"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31085\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}