Matador Technologies plans to buy up to 6,000 Bitcoin by 2027, with an interim goal of acquiring 1,000 BTC by 2026. The firm currently holds 77.4 BTC, aiming to become a top 20 corporate Bitcoin holder globally. Matador filed a $900 million shelf prospectus for funding over 25 months.

The company has a compounding flywheel strategy centered around accumulating Bitcoin, generating treasury yields, building real-world applications for Bitcoin revenue, and supporting the ecosystem through partnerships. Matador received approval for a change of business to a hybrid technology/investment issuer, paving the way for its Bitcoin treasury strategy.

Madador stock fell 4.65% after the announcement, despite a 37% increase in shares since the beginning of the year. Public and private companies hold 1.15 million BTC in treasuries, worth $136 billion and representing almost 6% of the total circulating supply. The boom in Bitcoin treasury companies aims to replicate the success of Michael Saylor’s Strategy, the largest corporate BTC holder with $71 billion worth of the asset.

Read more at Cointelegraph: Matador Technologies Plans 6,000 BTC Treasury By 2027