Matador Technologies, a publicly traded company based in Toronto, has decided to add $4.5 million worth of Bitcoin to its corporate treasury. This decision was made after all board members agreed to diversify their financial reserves.
In the press release, the company expressed concerns about the stability of the Canadian dollar, given Canada’s dependence on oil exports and a growing national debt. To address these issues, Matador is shifting the majority of its cash reserves from Canadian dollars to U.S. dollars.
“Matador’s board and management believe in using Bitcoin to future-proof our finances,” said Sunny Ray, the company’s president. The company plans to buy Bitcoin at the end of the month and may consider other investment opportunities later.
But Matador’s plans don’t stop there. The company is currently developing a digital gold platform that will allow its users to purchase, trade and store digital versions…
