Metador Technologies, a publicly traded, says it is planning to buy up to 6,000 bit coins by 2027, which has a significant acceleration in its strategy for buying bitcoin.
The Canadian blockchain and Bitcoin technology firm announced on Wednesday that it has an interim purpose of buying 1,000 Bitcoin (BTC) on or before 2026 and plans to develop BitCoin Treasury Strategy to submit 6,000 BTCs by 2027.
The firm currently has 77.4 BTC, which is about $ 9 million at current market prices. Its long -term purpose is to keep 1 % of total supply and become the top 20 corporate bit coin holder globally.
“Our business is formed around Bitcoin as a basic asset,” said Dyon Sony, CEO of Metador Technologies.
He added that the new approach is beyond the treasury management, which includes “infrastructure and operational components” that are associated with the Bitcoin ecosystem.
Bitcoin Treasury Funding for two years
On July 14, Metador filed a $ 900 million Canadian dollar ($ 656 million) shelf prostitution to provide flexibility in 25 months.
They intend to use various funding methods, including the market offer, convertable financing, asset distribution, Bitcoin -backed credit facilities and strategic acquisitions or contributions.
Related: 10 public companies who quietly turned their balance sheet into Bitcoin treasury
The firm received final approval from Canada’s TSX Venture Exchange to change business in a hybrid “technology/investment issuer” in early July, which cleared the Bitcoin Treasury Strategy.
Compound Fly Wheel Strategy
The firm has BitCoin -backed “Compound Fly Wheel” strategy that revolves around four ingredients.
They are strategically accumulating bitcoin while Bitcoin produces more and more shares per share, producing treasury through “volatility grip and artificial mining”, creating actual world applications to generate revenue -related revenue from bitcoin, and supports the environment with environmental infrastructure.
“Our future plans for collecting bitcoin are designed to establish long -term stability on our balance sheet, while reducing the risk of inflation,” said Mark Moss, the chief visionary officer of the firm.
However, according to Google Finance, the Maddor Stock did not disclose the general response and decreased 4.65 % on Wednesday. Since the beginning of the year, the shares of the firm have increased by about 37 %.
Bitcoin treasures have 6 % supply
This year, Bitcoin Treasury companies have a rise because participants hope they will imitate the success of Michael Seller’s strategy, which is the world’s largest corporate BTC holder, worth $ 71 billion.
According to Butt Quintraz.net, public and private companies have about 1.15 million BTC overall. The stash is currently 6 136 billion and it represents about 6 6 % of the total supply of total supply.
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