DigitalX, Australia’s digital asset manager, has secured $20 million ($13.5 million) in strategic investments from Global Crypto players, expanding the Bitcoin Treasury Department.
The strategic investment included key participants such as the Animoca brand, UTXO management, and Paraffin Capital.
“The fund will expand DigitalX’s Bitcoin Treasury and strengthen its Bitcoin First Strategy,” DigitalX wrote X:
The capital raised will be deployed to DigitalX’s existing Bitcoin Treasury expansion, the official announcement reads.
Additionally, DigitalX added that Crypto industry expert Yat Siu, co-founder of Animoca Brands, and Hervé Laren, CEO of Airvey.io, will be joining the company’s strategic advisory committee. The Expertise Committee provides strategic advice focused on ensuring access to Bitcoin and investors.
DigitalX aims to strengthen its BTC holdings
ASX listed companies follow the proven success strategies of early Bitcoin employers, including Michael Saylor’s strategy and Metaplanet.
DigitalX said about $19.7 million ($12.8 million) has been deployed in the expansion of the company’s Bitcoin Treasury, with the rest being allocated to offers and working capital costs.
In 2014, DigitalX was listed as a BTC mining company and is actively involved in keeping BTC on its balance sheet. The company currently owns 65 Bitcoin and 881K units directly in Bitcoin ETF (BTXX), worth around $43.3 million. Following the placement, DigitalX’s total assets exceed $95 million in Bitcoin and cash.
“This strategic investment is an important milestone for DigitalX as it continues to focus on Bitcoin as the core of its financial strategy,” said interim CEO Demetrios Christou. “This partnership ensures that DigitalX is well positioned to implement a focused strategy and bring long-term value to shareholders.”
ASX-listed Post DigitalX has secured $13.5 million in agency support to boost the BTC reserve that first appeared on Cryptonews.
