DigitalX, an Australian digital asset management firm, has successfully secured AU$20.7 million (approximately $13.5 million) in a strategic investment aimed at enhancing its Bitcoin holdings. This funding was backed by several prominent players in the cryptocurrency sector, including Animoca Brands, UTXO Management, and ParaFi Capital.
The company revealed its intentions on the social platform X, stating, “The funds will expand DigitalX’s Bitcoin treasury, reinforcing our Bitcoin-first strategy.” Following this investment, the total value of DigitalX’s assets is projected to surpass AU$95 million (about $62.13 million).
In an official communication, DigitalX confirmed that the raised capital would primarily focus on bolstering its Bitcoin treasury position. Furthermore, the firm announced that notable figures from the crypto industry, such as Yat Siu, co-founder of Animoca Brands, and Hervé Larren, CEO of Airvey.io, will join its strategic advisory board to provide expert guidance on Bitcoin and investor relations.
DigitalX Aims to Strengthen BTC Holdings
The ASX-listed company is adopting a strategy reminiscent of successful early Bitcoin adopters, including Michael Saylor’s approach and Metaplanet, both known for their aggressive accumulation of Bitcoin. DigitalX specified that approximately AU$19.7 million (around $12.8 million) would specifically be allocated to enhancing its Bitcoin treasury, with the remaining funds designated for associated costs and operational expenses.
Originally listed as a Bitcoin mining operation in 2014, DigitalX has sustained its engagement with Bitcoin, currently maintaining direct holdings of 65 BTC along with 881,000 units in its Bitcoin ETF (BTXX), valued at about $43.3 million. As a result of this latest investment, the company’s total asset value in Bitcoin and cash is expected to exceed $95 million.
Demetrios Christou, the Interim CEO of DigitalX, expressed optimism regarding the strategic investment, stating, “This strategic investment marks a significant milestone for DigitalX as we continue to focus on Bitcoin as the core of our treasury strategy. This partnership ensures DigitalX is well-positioned to execute its focused strategy and deliver long-term value for our shareholders.”
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