Canadian company Matador Technologies, which has developed a mobile app for trading precious metals, wants to buy almost 6,000 bitcoins within two years.
Following the example of Michael Saylor’s firm, Strategy, Matador Technologies’ management issued convertible bonds to raise funding for its BTC acquisition. The Canadians have concluded a deal to sell $100 million worth of securities to ATW Partners and will soon receive the first tranche of $10,5 million, which they plan to invest in cryptocurrency.
In October, Matador Technologies employees purchased 5 bitcoins, increasing their balance sheet holdings to 82 BTC, worth $8,6 million at the current exchange rate. They expect to accumulate 1,000 coins by the end of 2026 and increase their holdings to 6,000 by December 31, 2027. This means they plan to acquire 5,918 BTC, worth $620,5 million, over two years. The transactions will be financed with proceeds from the sale of securities.
Matador Technologies specialists risk losses by acquiring Bitcoin during the bearish trend that began in October. However, they are not concerned about unrealized financial losses because they have developed a long-term investment strategy in digital assets that involves accumulating 1% of the issued Bitcoin. The current circulating supply of BTC is 19,94 million coins, meaning the Canadians intend to accumulate at least 199,400 coins, worth $20,9 billion.