ASX-listed Locate Technologies to Allocate Bitcoin in Balance Sheet

ASX-listed company Locate Technologies announced the completion of a 1.45 million AUD financing and has become the first ASX-listed company to allocate Bitcoin on its balance sheet. The company stated that it will allocate cash exceeding operational funding needs to Bitcoin, aiming to establish a long-term strategic position. Company CEO Steve Orenstein said this move could strengthen the balance sheet and support future mergers and acquisitions, while acknowledging that some shareholders may be cautious. (Forbes)