ShenChao TechFlow news, on December 23, the board of directors of Matador Technologies (TSXV: MATA), a technology company listed in Canada, unanimously agreed to include BTC and USD assets in the company's reserve plan. The company will first allocate $4.5 million to purchase BTC in December 2024, and plans to increase reserves through a continuous purchase plan.
This strategic adjustment is based on a careful evaluation of the risk of Canadian dollar reserves. Given the high dependence of the Canadian economy on oil exports and the potential risk of currency depreciation caused by the continuous increase in government debt, Matador has decided to shift its reserves from Canadian dollars to US dollars and BTC. Sunny Ray, the company's president, emphasized that this move is aimed at hedging the risk of fiat currency depreciation with the value storage properties of BTC.
Matador is developing a blockchain-based digital gold platform, where physical gold will be stored at the Royal Canadian Mint. After evaluating the technical aspects of public chains like Ethereum and Solana, the company believes that BTC has significant advantages in terms of security, stability, and trustworthiness, making it more suitable as the underlying infrastructure for the digital gold asset platform. The company expects to finalize the technical architecture and initiate product testing for specific user groups in the first quarter of 2025.
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· 2024-12-23 13:12
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Canadian listed company Matador announced the inclusion of BTC in the company's reserves, with an initial allocation of $4.5 million.
ShenChao TechFlow news, on December 23, the board of directors of Matador Technologies (TSXV: MATA), a technology company listed in Canada, unanimously agreed to include BTC and USD assets in the company's reserve plan. The company will first allocate $4.5 million to purchase BTC in December 2024, and plans to increase reserves through a continuous purchase plan.
This strategic adjustment is based on a careful evaluation of the risk of Canadian dollar reserves. Given the high dependence of the Canadian economy on oil exports and the potential risk of currency depreciation caused by the continuous increase in government debt, Matador has decided to shift its reserves from Canadian dollars to US dollars and BTC. Sunny Ray, the company's president, emphasized that this move is aimed at hedging the risk of fiat currency depreciation with the value storage properties of BTC.
Matador is developing a blockchain-based digital gold platform, where physical gold will be stored at the Royal Canadian Mint. After evaluating the technical aspects of public chains like Ethereum and Solana, the company believes that BTC has significant advantages in terms of security, stability, and trustworthiness, making it more suitable as the underlying infrastructure for the digital gold asset platform. The company expects to finalize the technical architecture and initiate product testing for specific user groups in the first quarter of 2025.