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According to a report by Decrypt on June 26, Deep Tide TechFlow news states that Australian Securities Exchange-listed artificial intelligence biotech company Opyl Limited has announced the adoption of a Bitcoin reserve strategy to cope with financial pressure. The company purchased approximately 2 Bitcoins, valued at around $214,500, through the DigitalX Bitcoin ETF. Opyl stated that this move aims to strengthen "treasury diversification" and create shareholder value.
It is worth noting that Opyl had only $41,700 in cash at the end of the March quarter, which could sustain its operations for less than a month. This Bitcoin strategy is the company's survival move amid financial difficulties. Following the announcement, Opyl's stock price rose over 47% on the same day.