Australian digital asset supervisor DigitalX has raised A$20.7 million (US$13.5 million) in a recent spherical of strategic funding, deepening its dedication to a “Bitcoin-first” strategy.
The ASX-listed agency plans to make use of the funds to develop its Bitcoin treasury, with backing from heavyweight crypto buyers like Animoca Manufacturers, UTXO Administration, and ParaFi Capital.
DigitalX says it plans to allocate about AU$19.7 million (US$12.8 million) from its current increase towards boosting its Bitcoin holdings, with the remaining going towards supply bills and normal operations.
Along with the capital increase, DigitalX has bolstered its strategic advisory board with the appointments of Yat Siu, co-founder of Animoca Manufacturers, and Hervé Larren, CEO of Airvey.io.
Each carry deep expertise in crypto and digital belongings, and their involvement is predicted to supply worthwhile perception into Bitcoin technique and investor relations.
The transfer additional cements DigitalX’s place as a key participant in driving institutional crypto adoption in Australia.
Bitcoin-first Treasury strategy
DigitalX’s newest transfer aligns with the playbooks of worldwide Bitcoin champions like MicroStrategy and Japan’s Metaplanet, each recognized for aggressively stacking Bitcoin.
Since debuting on the ASX in 2014 as a Bitcoin miner, DigitalX has stored Bitcoin as a core asset on its steadiness sheet.
Proper now, it holds 65 BTC straight, together with 881,000 items of its personal Bitcoin ETF (BTXX), which interprets to roughly 193 BTC.
Altogether, that provides as much as a Bitcoin place value round US$43.3 million.
The position, priced at A$0.074 (US$0.048) per share and bundled with connected warrants, drew robust curiosity from each institutional and strategic buyers.
Notably, Simon Gerovich, the CEO of Tokyo-listed Metaplanet took half within the spherical personally.
The help from outstanding global crypto players highlights rising institutional confidence in Bitcoin as a long-term retailer of worth and factors to a broader shift towards regulated, clear methods to achieve publicity to digital belongings.
Credibility increase
Interim CEO Demetrios Christou known as the funding a “vital milestone,” noting that each the capital and the backing from globally revered Bitcoin advocates will assist DigitalX keep centered on its technique and create long-term worth for shareholders.
In the meantime, Yat Siu described Bitcoin as “the reserve asset of Web3 digital gold,” and pointed to DigitalX as among the finest methods for Australian buyers to achieve publicity to it.
With this newest funding spherical, DigitalX isn’t simply including to its Bitcoin holdings, it’s additionally reinforcing its function as a regulated, ASX-listed bridge for each institutional and retail buyers seeking to faucet into the Bitcoin area.
