DigitalX Ltd. has successfully raised approximately $13.5 million to expand its Bitcoin strategy.
Key Financial Highlights
DigitalX's capital raise was facilitated by Animoca Brands and is aimed at growing Bitcoin reserves through the ASX-listed Bitcoin ETF. This capital influx reflects the increasing institutional interest in Bitcoin.
Yat Siu Joins DigitalX's Advisory Board
Yat Siu, known for his role at Animoca Brands, has joined DigitalX's advisory board following the successful capital raise. His involvement signifies a key shift towards institutional Bitcoin holding.
Market Implications for Cryptocurrencies
The funding boost could significantly impact Australia's crypto landscape, potentially attracting more institutional players. It is expected to lead to an increase in assets under management for the Bitcoin ETF. Yat Siu stated: "Bitcoin is the reserve asset of Web3 – digital gold."
The expansion of Bitcoin reserves and strategic partnership with Animoca Brands mark significant shifts in the cryptocurrency market, reaffirming confidence in Bitcoin as a stable digital asset.
