TechFlow news, January 31 — According to Globenewswire, digital gold platform Matador Technologies Inc. (TSXV: MATA) announced the purchase of 3.38 bitcoins for CAD 500,000 (approximately USD 347,000), at an average price of USD 102,703 per bitcoin including fees.
The company stated it plans to invest an additional USD 350,000 in bitcoin purchases in the near term. Currently, Matador holds approximately 64.69 bitcoins (and bitcoin-equivalent assets), with a net asset value (NAV) of about CAD 13.6 million.
Operating with zero debt, the company holds around CAD 2.3 million in cash reserves and 2 kilograms of physical gold (worth approximately CAD 264,000), and plans to launch its first digital gold product in the first quarter of 2025.
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