- DigitalX raised AU$20.7M from big crypto players like Animoca, UTXO, and ParaFi, plus Metaplanet’s CEO, to boost its bitcoin reserves and expand operations.
- Investors paid AU$0.074 per share with warrants to buy more at AU$0.15; about AU$12.8M goes straight into buying more BTC, the rest funds operations and growth.
- Animoca’s Yat Siu and Hervé Larren joined DigitalX’s new advisory board as shares surged over 90%, signaling stronger Web3 and BTC ambitions in Australia.
Australia’s only ASX-listed crypto fund DigitalX has pulled in AU$20.7 million from a roster of big crypto names to bulk up its bitcoin position and expand its reach.
The capital raise brought in Animoca Brands, UTXO Management, ParaFi Capital, and a handful of industry insiders, including Simon Gerovich, CEO of Metaplanet, who joined the round privately.
Each share went for AU$0.074, and for every two shares bought, investors picked up a warrant that lets them grab more at AU$0.15 within the next 18 months.
Related: Metaplanet Cranks Up Bitcoin-Buying, Now Holds More Than 15,555 BTC
DigitalX Wants to Lean Harder Into BTC
Roughly two-thirds of the fresh funds, AU$12.8 million, is earmarked for buying more BTC, while the rest will cover general operations and keep the books balanced as DigitalX sharpens its focus.
Alongside the funding, the company tapped Animoca’s co-founder Yat Siu and Web3 advisor Hervé Larren to join a new advisory board, bringing heavyweight guidance as DigitalX gets ready to acquire more BTC, and even pursue broader crypto plays.
Related: Crypto Makes Gains as US Treasury Secretary Hints at Early Tariff Deals
Siu stated that Animoca’s decision stems from the firm’s belief that Bitcoin is the new digital gold and “reserve asset of the decentralized era”:
Animoca Brands’ investment in DigitalX underscores our commitment to this vision. By leveraging our expertise in Web3 and DigitalX’s strong position in the Australian market, we aim to bridge traditional finance with the innovative potential of Bitcoin, setting new standards for accessibility and adoption in the region.
Yat Siu, Co-Founder at Animoca BrandsShares of DigitalX (DGGXF) exploded by over 90% in the day, reaching US$0.088 (AU$0.13), according to data from Yahoo Finance.
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