Locate Technologies Secures Funding and Adopts Bitcoin Strategy

According to PANews, Locate Technologies, a delivery startup, has announced the completion of a 1.45 million AUD funding round. The company has also become the first Australian Securities Exchange (ASX)-listed company to allocate Bitcoin on its balance sheet. The decision involves using cash exceeding operational needs to invest in Bitcoin, aiming to establish a long-term strategic position. CEO Steve Orenstein stated that this move is intended to strengthen the balance sheet and support future mergers and acquisitions, while acknowledging that some shareholders may approach this strategy with caution.