DigitalX Secures $13.5M to Expand Bitcoin Holdings; Bolster Strategic Leadership

Australian crypto fund manager DigitalX has raised $13.5 million from a consortium of digital asset investors, signaling a renewed commitment to Bitcoin as the core of its investment strategy.

Fresh Capital to Strengthen Bitcoin Treasury

DigitalX, the only cryptocurrency fund manager listed on the Australian Securities Exchange (ASX), announced the successful completion of a A$20.7 million (US$13.5 million) strategic placement this week. The raise attracted significant backing from industry players, including Animoca Brands, ParaFi Capital, and UTXO Management.

The capital injection will primarily support an expansion of DigitalX’s Bitcoin holdings, with approximately $12.9 million earmarked for treasury allocation. The remainder will be directed towards operational expenses, working capital, and transaction-related costs.

Participants in the placement received shares at A$0.074 (US$0.048) per unit, with an additional incentive of one warrant for every two shares purchased. These warrants, exercisable at A$0.15 (US$0.10), carry an 18-month expiry.

Key Industry Figures Join Advisory Board

Alongside the funding, DigitalX has reinforced its leadership team by establishing a strategic advisory board, naming Animoca Brands Executive Chairman Yat Siu and Web3 investor Hervé Larren as initial appointees. The move reflects the company’s ambition to strengthen its strategic position within the digital asset investment space.

Commenting on his involvement, Siu noted his longstanding association with DigitalX and highlighted the company’s unique position within Australia’s regulatory environment. 

He stated,

"As the only ASX-listed vehicle actively accumulating Bitcoin, DigitalX provides a rare opportunity for investors — including those with retirement portfolios — to gain exposure to Bitcoin via a regulated public market."  

Bitcoin as a Strategic Foundation

DigitalX’s latest capital raise marks a pivotal shift, underscoring Bitcoin’s continued prominence in its long-term strategy. In its announcement, the company stated, 

“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.” 

Siu, a vocal advocate for Bitcoin’s role in digital asset portfolios, reiterated that holding Bitcoin serves as both a hedge and an entry point into the broader Web3 economy. 

He added, 

“Once you have some Bitcoin, directly or indirectly, you begin expanding into other tokens and on-chain assets.”

Bitcoin on Corporate Balance Sheets: A Growing Trend

The move by DigitalX follows a rising trend of publicly listed firms incorporating Bitcoin into their corporate treasuries. The strategy gained widespread attention when MicroStrategy initiated large-scale Bitcoin acquisitions in 2020, financed largely through convertible debt offerings, followed by Japan’s Metaplanet, which has positioned itself as "Asia's MicroStrategy," with Bitcoin purchases funded by both equity and planned debt raises.  

While the strategy has its skeptics, Siu emphasized that the seriousness of such moves ultimately depends on whether companies are committing to the long term or simply capitalizing on market sentiment.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice