DigitalX Attracts $13.5M Investment Led by Animoca to Strengthen Bitcoin Strategy

• Yat Siu from Animoca Brands will advise DigitalX on its Bitcoin asset management approach.
• The funding will support DigitalX’s efforts to increase its Bitcoin reserves and expand blockchain ventures.
• The partnership aims to enhance DigitalX’s role in the growing digital asset and cryptocurrency market.

DigitalX, an ASX-listed digital asset investment manager, has raised capital of 20.7 million (US$13.5 million) to fast-track its Bitcoin treasury strategy.  Animoca Brands of Hong Kong was the lead investor in the round, which also included UTXO Management and ParaFi Capital, two global digital asset investors.

Source – snippet from digitalx

Animoca Brands advised the strategic placement. The capital injection was done by the company finding DigitalX as a partner and linking it to a consortium of strategic investors.

 The increase should strengthen DigitalX in the digital asset industry and help it pursue its plans of expanding its Bitcoin reserves.

“We think that Bitcoin is the digital gold and reserve asset of the decentralized age,” according to Yat Siu, who is the co-founder and executive chairman of Animoca Brands. The new capital will enable DigitalX to increase its holdings of Bitcoin and build on its products that are grounded on blockchain investments. 

The company operates the first ASX-listed spot Bitcoin exchange-traded fund, the DigitalX Bitcoin ETF and harnesses the power of blockchain technology to generate value to investors.

DigitalX Bolsters Bitcoin Strategy with Animoca Brands’ Yat Siu Joining Advisory Board

Source – X

In accordance with the terms of the agreement, Yat Siu and Hervé Larren will be included on the Strategic Advisory Board that DigitalX is planning to establish. They will also give recommendations on the approach of the company to a Bitcoin treasury and give his ideas on the trends of business within Web3 and crypto markets. 

The participation is likely to boost the market positioning of DigitalX and improve its strategic direction with the help of Siu. The involvement of Animoca Brands and Hervé Larren in the raise testifies to its interest in the expansion of the digital asset infrastructure in the Asia-Pacific region. 

As the advisors of the company, its part involved creating the transaction. They also introduced DigitalX to the relevant investors in digital assets. Additionally, they advised the overall positioning. The two companies have even more interest as Leigh Travers, the director of emerging markets at Animoca Brands, is the non-executive chair of DigitalX.

The partnership will use Animoca’s experience in digital property rights and blockchain innovations. This will support the investment strategies of DigitalX.

According to Siu, the investment by Animoca Brands in DigitalX bolsters their shared belief in Bitcoin. He described it as the decentralized economy’s super asset.

A larger Bitcoin treasury and the advisory services provided by Animoca Brands are potential strengths that can see DigitalX take advantage of the changing opportunities in the field of the digital asset market.