In an ASX listing on Tuesday, DigitalX confirmed it has raised $20.7 million via a strategic placement to global digital asset investors Animoca Brands, UTXO Management, and ParaFi Capital, among other investors.
Describing the moment as “pivotal” for the company, DigitalX said the funds raised will allow it to execute a bitcoin treasury strategy by expanding on its bitcoin holdings – reflecting long-term confidence in bitcoin’s role as the “premier” store of value as an institutional-grade asset.
“This strategic investment marks a significant milestone for DigitalX as we continue to focus on bitcoin as the core of our treasury strategy,” said interim CEO Demetrios Christou.
He noted that the backing of globally-recognised leaders in the bitcoin space – including Simon Gerovich, the CEO of Tokyo Stock Exchange-listed Metaplanet – not only enables the firm to expand its bitcoin holding but also provides “invaluable strategic expertise and access to their networks”.
“This partnership ensures DigitalX is well-positioned to execute its focused strategy and deliver long-term value for our shareholders,” Christou said.
In addition to the funds raised, DigitalX said its strategy execution will be bolstered by the intended addition to the advisory board of digital asset industry veterans Yat Siu – co-founder and executive chairman of Animoca Brands – and Hervé Larren, CEO and founder of Aivery.io.
The advisory board’s role, the firm explained, will be to provide ongoing strategic advice focused on bitcoin and securing access to investors and non-dilutive funding while ensuring that the firm maintains strong connections within the global digital asset community.
As at 8 July, DigitalX held 65 bitcoin directly, along with 881,000 units in its Bitcoin ETF (BTXX), the equivalent to 193 bitcoin, valued at around $43.3 million. Following the completion of the placement, the firm’s total assets are expected to increase to $95 million in bitcoin, digital assets and cash.
As at 1:00pm AEST, bitcoin was valued at some US$107,816.
As reported by InvestorDaily earlier this week, bitcoin delivered the strongest return among major asset classes in FY2024–25, outperforming commodities and equity markets amid signs of increasing institutional adoption and declining volatility.
Namely, the cryptocurrency posted a 73.2 per cent return, far ahead of gold (41.8 per cent), copper (16.9 per cent), the ASX 200 (9.97 per cent) and the S&P 500 (13.6 per cent).
Commenting on these gains, Charlie Sherry, head of finance at BTC Markets, said the narrative around bitcoin had shifted materially over the past year.
“It’s no longer about a retail investor thinking ‘Maybe I’ll throw in 1 per cent’,” he said. “Instead, we have institutional legitimisation via ETFs, family offices getting asked about crypto from their investors, and even executive teams pushing treasury strategy into crypto-native rails.”
“There’s a new level of adoption – and it’s deliberate.”
