ASX-listed Opyl Limited, a struggling Australian AI-biotech company, has adopted a Bitcoin treasury strategy to address its financial challenges. The company purchased approximately two Bitcoin, valued at around $214,500, through the DigitalX Bitcoin ETF listed on the ASX. This move aims to diversify its treasury and enhance shareholder value, especially as the firm reported only $64,000 in cash at the end of the March quarter with a funding runway of less than one month. Additionally, Opyl secured a non-dilutive loan of $1.3 million from non-executive director Tony Guoga, which is backed by its Bitcoin holdings. The trend of public companies adopting Bitcoin as a financial strategy has been growing, particularly among those facing financial distress. Analysts note that while this approach may offer a temporary solution, caution is warranted as the volatility of Bitcoin could lead to forced liquidations if market conditions worsen. Guoga emphasized the importance of understanding the crypto landscape as it gains institutional support, positioning Bitcoin as a validated asset class.

Source đź”—