DigitalX Raises $13.5M to Enhance Bitcoin Holdings

DigitalX Raises $13.5M to Enhance Bitcoin Holdings

DigitalX Ltd. has raised USD 13.5 million through a strategic placement, drawing participation from prominent investors including Animoca Brands. The funds will primarily be used to expand Bitcoin reserves, affirming DigitalX’s commitment to its Bitcoin-first strategy.

The strategic placement is a significant move for DigitalX, enhancing its position in the crypto space and potentially influencing market perception of Bitcoin as a crucial treasury asset.

DigitalX Ltd., with support from Animoca Brands and other investors, has secured USD 13.5 million to augment its Bitcoin reserves. This move aligns with its strategy to become a leading gateway for Bitcoin access in Australia.

Yat Siu, Executive Chairman of Animoca Brands, has joined DigitalX’s advisory board, signaling increased synergy between the two firms. His involvement highlights DigitalX’s role in empowering digital ownership and financial autonomy.

By acquiring substantial Bitcoin holdings, DigitalX aims to bolster its market standing and secure a dominant position within the cryptocurrency ecosystem. This action reflects broader trends of institutional Bitcoin adoption.

Expanding Bitcoin reserves may impact Australian market dynamics, making Bitcoin increasingly viable as a treasury asset. DigitalX’s ETF offerings stand to gain from these enhanced reserves, potentially drawing more investors.

This strategic move echoes previous large-scale Bitcoin purchases by firms like MicroStrategy, suggesting a broader institutional embrace that could stabilize and boost Bitcoin’s market appeal.

Historically, such acquisitions have contributed to rising confidence in Bitcoin as a store of value. DigitalX’s actions likely reinforce this viewpoint in the market, with potential regulatory and competitive ramifications.

“Bitcoin is the reserve asset of Web3 – digital gold. We are excited to expand broader access to Bitcoin in Australia with DigitalX…” – Yat Siu, Executive Chairman, Animoca Brands Proactive Investors