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Bitcoin Treasury Push: Matador Approved to Raise $58M in Canada
Bitcoin-focused financial services firm Matador Technologies has received regulatory approval to raise significant capital as it pushes forward with its long-term plan to build a sizable Bitcoin treasury. The company aims to hold 1,000 Bitcoin by the end of 2026, positioning itself among a growing list of public firms adopting Bitcoin-backed balance sheets.
Regulatory Green Light from Ontario
Matador announced on Tuesday that the Ontario Securities Commission has approved its plan to sell up to 80 million Canadian dollars ($58.4 million) in securities over a 25-month period. The offering may include common shares, warrants, subscription receipts, debt securities, or units, giving the company flexibility in how it raises capital.
According to CEO Deven Soni, the strategy is centered on “increasing Bitcoin per share over time,” with a continued focus on reaching a 1,000 BTC treasury balance by the end of 2026.
Current Bitcoin Holdings and Market Reaction
Matador currently holds 175 Bitcoin, valued at approximately $15.3 million, ranking it as the 90th largest corporate Bitcoin holder, based on BitcoinTreasuries.NET data. The company accumulated these holdings within the first year of launching its Bitcoin treasury strategy.
Despite the long-term ambitions, Matador shares (MATA) fell 3.57% on Tuesday, reflecting broader investor caution toward corporate Bitcoin strategies amid market volatility.
Matador’s chief visionary, Mark Voss, said the company plans to closely monitor Bitcoin’s volatility, deploying capital strategically throughout the current market cycle.
More than 190 publicly traded companies now hold Bitcoin on their balance sheets, a trend that accelerated after the launch of spot Bitcoin ETFs in the US last year. However, the approach has come under scrutiny as some firms have seen their stock prices slide and others have sold Bitcoin to meet financial obligations.
Ambitious Long-Term Goals
Matador became a Bitcoin treasury company on Dec. 23, 2024, and later revealed plans to expand its target from 1,000 BTC to 6,000 BTC by the end of 2027. Its ultimate ambition is to own 1% of Bitcoin’s fixed supply, or roughly 210,000 BTC—a milestone currently achieved only by Michael Saylor’s Strategy.
