DigitalX raises $13,5 million to expand Bitcoin treasury
- DigitalX bolsters treasury with more strategic Bitcoin
- Animoca Brands leads investment in cryptocurrency fund
- Institutional investors bet on corporate bitcoin
Australian cryptocurrency fund manager DigitalX has announced it has raised $13,5 million in a strategic round with participation from major industry investors including Animoca Brands, UTXO Management and ParaFi Capital. The bulk of the funding, around $12,9 million, will go towards expanding the company’s bitcoin treasury.
The company revealed that the remaining funds will be used to cover the offering’s expenses and to reinforce its working capital. The move signals a solid bet on the market’s leading cryptocurrency as the central axis of DigitalX’s long-term strategy.
“This capital raise marks a pivotal moment for the company, reflecting a renewed emphasis on bitcoin as the ongoing foundation of DigitalX’s digital asset strategy,” highlighted the company in an official statement.
The investment also involved big names in the crypto industry. Simon Gerovich, CEO of Metaplanet — a company that has been aggressively buying bitcoin — participated in the round. Each share was offered for A$0,074 (approximately US$0,048), accompanied by one warrant for every two shares subscribed. These warrants can be exercised for A$0,15 (US$0,10) per share, with maturity in 18 months.
In addition to the financing, the company expanded its advisory board with strategic names: Yat Siu, co-founder of Animoca Brands, and Hervé Larren, CEO of Airvey.io, will now contribute with strategic direction.
DigitalX’s move follows a growing trend among publicly traded companies that are integrating cryptocurrencies into their corporate reserves. Cases such as those of Strategy, led by Michael Saylor, and Metaplanet itself, are inspiring similar moves.
The positive rhetoric surrounding cryptos from the current US President, Donald Trump, has also contributed to the consolidation of this strategy among public companies interested in bitcoin as a hedge and long-term asset.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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