This is true, but it's also something that is arguably impossible on the one hand and "unwise" on the other.
You can easily map a higher-dimensional space into a lower-dimensional space, but you will irretrievably lose a lot of information when you do so.
And in the other direction, you can't actually map a lower-dimensional space into a higher-dimensional space with a matrix. The image of X can never have more dimensions than X does -- the choice to represent it with Y > X dimensions is just that, a representational choice. This idea is only meaningful in terms of the semantics behind the representation.