Summary
- Matador Technologies announced its decision to add Bitcoin to its balance sheet.
- The board unanimously approved the purchase of $4.5 million worth of Bitcoin.
- The weakening value of the Canadian dollar was cited as a background for the decision to purchase Bitcoin.
Matador Technologies, a cryptocurrency business operating in Canada, is adding Bitcoin (BTC) to its financial assets. Matador Technologies provides blockchain services that allow the purchase, trading, and storage of gold.
On the 25th, according to Cointelegraph, Matador Technologies announced that the board of directors unanimously approved the proposal to add Bitcoin to the balance sheet. Matador will purchase a total of $4.5 million worth of Bitcoin.
The background to Matador Technologies' strategy is interpreted as the continuously weakening value of the Canadian dollar. According to Matador Technologies, the company's finance department determined that maintaining all assets in Canadian dollars posed a risk.
The report explained, "Canada's reliance on oil exports and increasing national debt could negatively impact the preservation of the Canadian dollar's value."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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