ASX-listed Locate Technologies adds Bitcoin to its balance sheet

Odaily News ASX-listed Locate Technologies announced the completion of A$1.45 million in financing and became the first ASX-listed company to allocate Bitcoin on its balance sheet. The company said it would allocate cash in excess of working capital needs to Bitcoin, aiming to establish a long-term strategic position. The company's CEO Steve Orenstein said the move would strengthen the balance sheet and provide support for future mergers and acquisitions, while acknowledging that some shareholders may be cautious. (Forbes)