To add to this - they've announced they bought a $1m AUD worth of Bitcoin this morning.

Thanks for the heads-up @rh8178 . I’ll definitely keep a close eye on LOC. Saylor has certainly started a trend that seems to be growing around the world. Around 80 companies have already adopted BTC as a strategic reserve, with estimates suggesting this could grow to approximately 1,000. Being the first Australian company to do this could offer a significant first-mover advantage. But is this enough to justify a small speculative parcel? Maybe I should go read the annual reports first :).

Yes - there's also a previous interview here on Strawman - it was previously called Zoom2U. I have been a shareholder for a few years, not one of my best picks - but doesn't mean it can't recover - I've spoken to the CEO occasionally, I think he's a good guy and the founder/major shareholder (so good alignment with shareholders). Doesn't appear to me to be pulling much out of the business.

It runs a sort of Uber service for parcel delivery, a concept I liked. The Uber bit has not really taken off, but they have been getting traction in selling their software to others to develop their own logistics systems. But overall a slow grower and only just starting to hit profitability.

Stock has been weighed down by a pretty dilutive funding agreement (Pure provided the facility) as well, which has meant there was a large slab of warrants overhanging. This last raise removed those (Pure came into the shareholder register instead), but I think it's the bitcoin announcement that's given them a pop.

Disc: per above, held IRL.

I've been trying to figure out which ASX stocks such a move makes sense for, and I reckon Integrated Research (ASX:IRI) fits the bill perfectly.

Stagnant, but profitable with good cash flows, no debt and $30m in cash. Importantly, they have a founder with a large controlling stake.

I've even emailed him (Stephen John Killelea) to see if he'd be open to discussing it. No response as yet, and probably wont get one. But I'd love to make the pitch, and would be confident it'd be a positive for them.

Anyway, as @rh8178 said, we spoke with Zoom2U ages ago in 2022. The link is here if interested: https://vimeo.com/756625648

Big pop this morning on no news, market figuring out the Bitcoin strategy I think. Not sure if that is a sustainable rise, but welcome never the less as it's been stuck in a 5 to 7c range for a very long time...

Re: your comment strawman - I think a Bitcoin reserve is interesting, as long as you leave enough cash for working cap needs and you're using surplus capital...I'd hate to see a company have a need for capital and it be at a time the Bitcoin price was down...

100% agree @rh8178

If it's just a gimmick to attract hot money, and at the expense of prudent capital needs, it's hard to see it as anything other than a reckless gamble. One very likely to end badly.

But for excess, long-term capital, it's an ideal treasury asset. One that will almost certainly outpace any interest on bonds or term deposits. It also signals a forward looking enterprise, with a long-term focus. And, i'd argue, it attracts a new cohort of investors (who themselves may find themselves with a lot more capital flex in the years ahead). As well as those instos that must allocate within strict mandates and who otherwise cant gain BTC exposure.

Not a view that is likely to be widely shared, at present.