ASX-listed Locate Technologies allocates Bitcoin to its balance sheet
PANews reported on June 4 that, according to Forbes, distribution startup Locate Technologies announced the completion of a $1.45 million financing and became the first ASX-listed company to allocate bitcoin on its balance sheet. The company said it will allocate cash beyond its working capital needs to Bitcoin, aiming to build long-term strategic holdings. CEO Steve Orenstein said the move would strengthen the balance sheet and support future mergers and acquisitions, while acknowledging that some shareholders may be cautious.
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