Australian Crypto Asset Manager DigitalX Secures Over $13M to Expand Bitcoin Holdings

Crypto asset manager DigitalX (DCC) has locked in 20.7 million australian dollar ($13.5 million) from heavyweight crypto investors to deepen its focus on bitcoin (BTC).

The placement attracted funding from Animoca Brands, UTXO Management and ParaFi Capital, alongside individual contributions from executives in the crypto space. One of those participants is Simon Gerovich, President and CEO of Japan-listed Metaplanet, who invested in a personal capacity.

Metaplanet (3350) is currently the fifth-largest publicly traded bitcoin treasury company, with 15,555 BTC on its balance sheet.

DigitalX plans to funnel nearly 19.7 million australian dollar ($12.9 million) from the raise directly into boosting its bitcoin treasury, building on a stash that already includes 65 BTC held outright. The firm manages its own bitcoin ETF.

Altogether, its assets in bitcoin and other digital holdings will climb above 95 million AUD following the placement.

Listed in 2014 as a bitcoin mining company, DigitalX has been a long-time proponent of bitcoin’s potential as a store of value.

In the placement, shares in DigitalX were issued at 7.4 australian cents each, a slight discount to recent trading levels, with additional warrants offered pending shareholder approval.

Shares of DigitalX rose nearly 42% on Tuesday, jumping to over 11 australian cents.