DigitalX Taps Animoca’s Yat Siu, Raises $13.5M to Buy Bitcoin
DigitalX (DCC) has raised A$20.7 million (US$13.5 million) from digital asset investors to expand its Bitcoin holdings and create a strategic advisory board. The share placement was priced at A$0.074 (US$0.048), with participation from Animoca Brands, UTXO Management, and ParaFi Capital. Investors received warrants for future shares, exercisable at A$0.15 (US$0.10) within 18 months. Of the funds raised, A$12.8 million will be allocated for Bitcoin purchases, while the rest will cover operational costs. Yat Siu and Hervé Larren were appointed to the advisory board. Siu emphasized Bitcoin's role as a hedge and gateway to the digital asset ecosystem, advocating for its inclusion in investment strategies. He noted that the trend of companies acquiring Bitcoin is growing, but motivations vary. Siu indicated that DigitalX's capital raise is just the beginning of its Bitcoin strategy.
