Australian fund manager DigitalX to grow bitcoin holdings with $13.5M raise from Animoca Brands, Metaplanet CEO and others
Quick Take Australian crypto fund manager DigitalX has raised $13.5 million through a strategic placement involving Animoca Brands, UTXO Management, and other investors. Most of the capital is earmarked for expanding the company’s bitcoin treasury.
Australian crypto fund manager DigitalX announced on Tuesday that it had raised A$20.7 million ($13.5 million) from crypto investors, including Animoca Brands, UTXO Management, and ParaFi Capital.
Approximately $12.9 million will be allocated to expand its bitcoin treasury, while the remaining funds will cover the costs of the offer and working capital.
"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," the press release said .
The strategic placement also involves investment from CEOs of publicly listed firms, including Metaplanet CEO Simon Gerovich.
Each share was priced at A$0.074 ($0.048), while each investor received one warrant for every two shares subscribed, exercisable at A$0.15 (US$0.10) per share and expiring 18 months from its issue date.
With the raise, DigitalX added Animoca Co-founder Yat Siu and Airvey.io CEO Hervé Larren to its advisory board.
Following the demonstrated success of early adopters such as Michael Saylor's Strategy and Metaplanet, dozens of companies embraced crypto corporate treasury strategies in recent months. U.S. President Donald Trump's ongoing positive crypto advocacy further bolsters the movement.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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