DigitalX Secures A$20.7 Million for Bitcoin Expansion

DigitalX Limited Secures A$20.7 Million for Bitcoin Expansion

The investment highlights growing institutional confidence in Bitcoin, positioning DigitalX as a leading platform in Australia for Bitcoin access.

A$20.7 million has been allocated to DigitalX for expanding its Bitcoin treasury, primarily funded by major players such as Animoca Brands and UTXO Management. Simon Gerovich invested individually, emphasizing confidence in DigitalX’s strategy.

DigitalX, Australia’s longest-operating listed digital asset company, will use A$19.7 million from this investment to bolster its Bitcoin holdings. This move, advised by Animoca Brands, underscores growing institutional support for Bitcoin.

The investment boosts DigitalX’s market presence and positions Bitcoin as a crucial reserve asset. This strategy aligns with prior initiatives by companies like MicroStrategy, influencing market sentiment and BTC’s role as a digital reserve.

“Bitcoin is the reserve asset of Web3 – digital gold. We are excited to expand broader access to Bitcoin in Australia with DigitalX to help empower communities with the tools for digital ownership and financial sovereignty.” – Yat Siu, Executive Chairman of Animoca Brands

The involvement of strategic investors enhances DigitalX’s market positioning. The investment supports DigitalX’s Bitcoin-first approach, potentially increasing on-chain BTC flows related to its ETF. This aligns with historical strategies seen in companies like MicroStrategy, driving treasury growth and broader market acceptance of Bitcoin reserves.

With new advisory board members such as Yat Siu joining DigitalX, the company is poised to navigate digital asset policy effectively. Increased Bitcoin reserves are anticipated to affect DigitalX’s ETF, enhancing its attractiveness to investors.