Matador granted permission to sell $58.4 million worth of stock to increase his Bitcoin holdings.

Odaily Planet Daily reports that Matador has received approval to issue CAD 80 million (approximately USD 58.4 million) worth of stocks, warrants, debt securities, or units within 25 months. Matador CEO Deven Soni stated that the company aims to increase its Bitcoin holdings to 1,000 by the end of 2026.

Matador currently holds 175 bitcoins, worth $15.3 million. The company plans to reach its target of 1,000 bitcoins by 2026, and further increase its holdings to 6,000 by the end of 2027. Its long-term goal is to hold 1% of the total bitcoin supply, or approximately 210,000 bitcoins.