Wall Street’s New Bitcoin Whale: Firm Locks $100M to Stack BTC, Plans 1% of Supply

Matador Technologies has secured a $100 million convertible note facility with ATW Partners, following the Bitcoin acquisition model pioneered by Strategy. The initial tranche of $10.5 million is dedicated to buying BTC, with the company targeting the acquisition of 1,000 BTC by 2026 and 6,000 BTC by 2027, ultimately aiming to hold approximately 1% of Bitcoin's total supply. The notes carry an 8% annual interest rate, which drops to 5% upon a potential NASDAQ or NYSE listing. This convertible debt structure allows Matador to raise capital without immediate shareholder dilution while offering note holders downside protection and upside conversion rights. Matador's strategy involves accumulating during market turbulence, mirroring Strategy's successful counter-cyclical approach. The notes are secured by Bitcoin collateral, providing security for investors, signaling a maturation of the corporate Bitcoin treasury financing model.

(Source：BeInCrypto)