ASX companies invest in crypto despite risks
Despite concerns that the blending of cryptocurrency with more regulated products could expose sharemarkets to “systemic consequences”, the promise of quick returns is hard to ignore.
Clinical trial results analysis company Opyl bought two bitcoin for $330,000 in July via an ASX-listed DigitalX administered crypto ETF.
“We’ve already had quite a good return, it’s probably up 5 to 10 per cent since we bought a couple of months ago,” says Saurabh Jain executive chairman of the ASX-listed company, who adds that investors want management to do more with cash than just leaving it in the bank.
“Our core business isn’t crypto investment. Our core business is still the medical trial key AI platform, so this is a bit of a side…
