Many don't understand Bitcoin. Speculation specifically in regards to what next i'd imagine. There's some innovation in the financial world available for US companies who adopt a BTC standard.

I've already reached out to the CEO Steve Orenstein to get his rationale for the move, and he's agreed to come chat with us (just waiting to finalise a date/time).

While it was only a matter of time before an ASX company did this, and it's something I think makes a lot of sense for the right company, my initial reaction is somewhat cautious. The business is cash flow negative and even EBITDA negative, and in fact just completed a capital raise. It's not like they have oodles of spare cash for a long term holding in what is an extremely volatile asset. Of course, the market's reaction is very positive (so far), but i'm not sure how well this will work out for them if the BTC price drops and they need to fund operations or an acquisition.. Perhaps Steve reckons they can emulate the Microstrategy playbook, but there's not much liquidity for their shares, and very minimal balance sheet capacity.

Will hold off judgement until we can sit down with him and get his views.