Matador Gets Regulatory Nod for $58M Share-Sale
Matador Technologies, a Bitcoin financial services firm, has received approval from the Ontario Securities Commission to sell up to CA$80 million (about $58.4 million USD) in company shares and other securities over the next 25 months. The funds will support Matador's goal of growing its Bitcoin treasury to 1,000 BTC by the end of 2026. Currently, Matador holds 175 BTC, valued at $15.3 million, making it the 90th largest corporate Bitcoin holder. Matador aims to increase the amount of Bitcoin held per share and will time its acquisitions according to market volatility. The firm’s shares fell 3.57% after the announcement. Institutional Bitcoin adoption continues to rise, with more than 190 public companies holding Bitcoin, but share prices of some Bitcoin-focused firms have declined following market downturns. Some companies, like Sequans, have recently sold Bitcoin to address financial obligations. Matador plans to target 6,000 BTC by 2027 and ultimately aims to accumulate 1% of Bitcoin’s total supply (about 210,000 BTC), a milestone only achieved by MicroStrategy so far.
