Disseminated on behalf of: Matador Technologies Inc.
Deven Soni, Chairman and CEO of Matador Technologies (TSXV: MATA | OTCQB: MATAF |FSE: IU3), discusses the company’s digital asset strategy focused on acquiring and growing Bitcoin per share through a disciplined treasury model. Operating within the global digital asset ecosystem, the company’s goal is to accumulate Bitcoin over time using capital markets strategies; as institutional adoption and financialization of Bitcoin accelerate, Matador Technologies is positioning itself to capitalize on long-term demand for scarce digital assets.
Differentiation: pure-play bitcoin accumulation strategy
Unlike many peers, Matador Technologies is solely focused on Bitcoin accumulation rather than diversifying across multiple digital assets or opportunistic strategies. According to CEO Deven Soni, “We are solely focused on the Bitcoin ecosystem and truly focused on a long-term strategy of accumulating Bitcoin over time.” This singular focus allows the company to align its operations, capital allocation, and investor messaging around one core objective.
The company emphasizes consistency across market cycles, positioning itself as a long-term holder regardless of volatility. As Soni explains, “We’re always focused on accumulating … maximizing our holdings without taking undue risk.” This approach prioritizes disciplined capital deployment and avoids reactive decision-making during periods of market stress. By leveraging public market tools while maintaining a clear strategic mandate, Matador aims to differentiate itself as a dedicated Bitcoin treasury vehicle built for both bull and bear markets.
Market opportunity and investor appeal
With Bitcoin increasingly recognized as a store of value and institutional asset class, companies that provide structured exposure are gaining relevance. More than 200 public companies now hold Bitcoin on their balance sheets, yet only a subset actively build a defined accumulation strategy. Matador Technologies is positioning itself within this emerging category of digital asset treasury companies.
Soni highlights the company’s ambition to scale meaningfully within this landscape, targeting 1,000 Bitcoin as an initial milestone. Achieving this would place Matador among the top publicly traded holders globally, with further growth targeting a top 10 position. By focusing on Bitcoin per share growth, the company aims to provide investors with leveraged exposure to Bitcoin accumulation through a public equity vehicle, supported by capital markets access and operational discipline.
Strategic milestones and growth plans
Recent milestones include the company’s continued accumulation strategy and its stated objective to reach 1,000 Bitcoin within the next 24 months. Soni notes, “We’ve got a publicly traded goal of acquiring 1,000 Bitcoin as a starting point, and scaling from there as our business grows.”
In parallel, Matador is exploring strategic initiatives such as spinning out its gold treasury business to sharpen its Bitcoin-focused mandate while unlocking additional value. The company is also focused on leveraging capital markets, M&A opportunities, and innovative financial structures to support growth. Looking ahead, Matador aims to expand its holdings into the thousands of Bitcoin while maintaining disciplined execution and positioning itself among the largest global holders.
As Matador Technologies continues to execute on its Bitcoin accumulation strategy, it stands at the intersection of digital asset adoption and capital markets innovation. With clear targets and a focused mandate, the company is positioned to deliver disciplined growth as demand for structured Bitcoin exposure evolves.
Transcript
Jim Gordon
Hi, I’m Jim Gordon and you’re watching Market One Minute. Joining us is Deven Soni. He is the Chairman and CEO of Matador Technologies. Deven, welcome.
Deven Soni
Great. Thank you for having me, Jim. It is great to have you, sir. Okay. Let’s talk a bit and tell us more about Matador Technologies. Absolutely. Matador is a publicly traded company focused on acquiring and growing Bitcoin per share. We are solely focused on the Bitcoin ecosystem and truly focused on a long-term strategy of accumulating Bitcoin over time.
Jim Gordon
Okay. And how do you define success for Matador’s Bitcoin accumulation strategy over the next two to three years?
Deven Soni
We’ve got a publicly traded goal of acquiring 1,000 Bitcoin as a starting point, and scaling from there as our business grows and evolves. So, I think over the next 24 months, we want to get to that thousand, which would make us one of the top 20 holders of Bitcoin of publicly traded companies, and then get to a point where we can kind of scale up into being a top 10 provider.
Jim Gordon
And Deven, what strategic principles guide decision making when market volatility conflicts with long-term convictions?
Deven Soni
I think for us, our entire team have been part of the Bitcoin ecosystem for over 10 years. So, we’ve seen a whole lot of ups and downs. The most important thing is to understand what our strategy and what direction we’re going in before that volatility hits, which we have, which is we’re always focused on accumulating. We’re always focused on maximizing our holdings without taking undue risk. So, the main thing we can do there is really just stay the course, bring in capital strategically when it makes sense, you know, take a breath when it doesn’t make sense, but we’re always kind of rowing that right direction, based on what the market allows from a stock price perspective.
Jim Gordon
And Deven, how do you ensure that Matador remains different from other Bitcoin focused public companies?
Deven Soni
So, I think one of the things that we’ve seen in the market during the last cycle, we built Matador in 2021 and ’22, probably around the same time that’s one of the earliest digital asset treasury companies were launching and a full two to three years before this kind of wave of DATs kind of got created. We’re, first off, solely focused on Bitcoin. Secondly, we are fair weather and foul weather sort of Bitcoin holders. And I think thirdly, we really have an internal team that’s only focused on that as an operating plan. So, it’s not kind of been our, you know, sort of Hail Mary. So, if you look at now, there’s probably 200 companies that own Bitcoin in their balance sheet, you know, a full 150 of them probably don’t talk about it anymore and kind of hide under the rug a little bit. And we’ve kind of been loud and proud about our strategy ever since we went public, and I think we’ll continue to do so.
Jim Gordon
And Deven, you recently announced an intention to spin out your gold treasury business. Why does this make sense in today’s market?
Deven Soni
Well, when we started the business, one of the things that we were really focused on was building tools on top of Bitcoin. I think as we’ve realized that internally for Matador itself, being more focused on accumulation versus taking sort of operating time and energy into building new stuff is really not the core of what our shareholders want. That’s kind of part one.
And I think part two is we see a massive opportunity to take the same sort of infrastructure, the same playbook that we built with Bitcoin and take it to a market, gold, which really hasn’t had, you know, the same sort of digitization happen yet, the same sort of accumulation strategies. You’ve got a lot of ETFs like you have in Bitcoin, but you haven’t had really companies focused on maximizing gold. So, I think for us, it’s a really interesting opportunity to take what we’ve learned in Bitcoin and apply it to a market that’s 10 times larger and also do it in a way that benefits our current shareholders.
Jim Gordon
And what would you like Matador to be known for by investors and the broader market?
Deven Soni
I think a few things. Number one is really just unwavering conviction on the core thesis, despite, you know, sort of the market headwinds. I think secondly, really leveraging all the tools in the toolbox of public companies to do right by shareholders. I think the reason we went public when we did, you know, back in 2024 was to leverage the capital markets to scale our strategy. I think we’ve done that quite effectively. And I think that that’s one of those things that as new tools and innovative, you know, products and financial structures evolve, that’s something we want to continue to use & be leaders in.
Jim Gordon
And finally, Deven, if we were to revisit this conversation in three years, what does success look like to you?
Deven Soni
Well, I think one is broader capital markets interest kind of globally in Bitcoin, like there was a couple of years ago, tied with us being, you know, sort of again on that top 10 leaderboard of being one of the largest kind of Bitcoin holders globally, being innovative in terms of M&A and yield generation, but also doing so from a perspective of this generation. So, never having lost a Bitcoin, being a top 10 holder, owning several thousand BTC and having a sort of a commensurate market cap, which is probably signally higher than we are today.
Jim Gordon
Deven Soni, it’s been a pleasure to have you with us.
Deven Soni
Great, thank you. Thank you, Jim.
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