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DigitalX has significantly expanded its Bitcoin holdings, now owning nearly 500 BTC, reinforcing its position as a leading ASX-listed crypto fund manager.
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The company’s recent acquisition of 74.7 BTC, valued at around US$8.8 million, pushes its total Bitcoin treasury beyond $100 million, underscoring a strategic focus on Bitcoin as a core asset.
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Leigh Travers, DigitalX’s non-executive chairman, emphasized the firm’s commitment to Bitcoin, stating, “Bitcoin is the king,” and confirming no plans to diversify into other cryptocurrencies.
DigitalX boosts Bitcoin holdings to nearly 500 BTC, valuing its treasury over $100M, aligning with corporate trends of adopting Bitcoin as a strategic asset.
DigitalX’s Strategic Bitcoin Accumulation Elevates Treasury Value Beyond $100 Million
DigitalX, Australia’s sole ASX-listed crypto fund manager, has intensified its Bitcoin accumulation strategy with the recent purchase of 74.7 BTC, valued at approximately US$8.8 million at the time of acquisition. This latest buy increases the company’s total Bitcoin holdings to 499.8 BTC, worth around $91.3 million, including both directly held coins and those held via its stake in the DigitalX Bitcoin ETF. Executed at an average price of $117,293 per Bitcoin, this transaction marks a continuation of DigitalX’s deliberate approach to consolidate Bitcoin as the primary asset within its treasury portfolio, pushing the overall treasury valuation beyond the $100 million milestone. This move reflects a broader corporate trend where companies are increasingly recognizing Bitcoin’s potential as a strategic reserve asset.
Corporate Adoption of Bitcoin: DigitalX Aligns with Industry Leaders
DigitalX’s Bitcoin accumulation strategy mirrors the approach popularized by major corporate holders such as MicroStrategy, now rebranded as Strategy, which pioneered aggressive Bitcoin acquisitions starting in 2020. Strategy’s treasury currently exceeds 597,000 BTC, making it the largest corporate Bitcoin holder globally. Similarly, Japanese firm Metaplanet has attracted attention for its Bitcoin-centric pivot, earning the nickname “Asia’s MicroStrategy” due to its significant Bitcoin treasury built through equity raises and planned debt issuance. DigitalX’s recent capital raise of $13.5 million, with $12.8 million allocated specifically for Bitcoin purchases, positions the company alongside these industry leaders. The establishment of a strategic advisory board featuring prominent figures like Animoca Brands’ Yat Siu and Web3 advisor Hervé Larren further strengthens DigitalX’s commitment to this trajectory.
Focused Treasury Strategy: Bitcoin as the Sole Cryptocurrency Asset
Leigh Travers, DigitalX’s non-executive chairman and director of Capital Markets at Animoca Brands, articulated the company’s clear treasury strategy: “Our strategy is simple: acquire and hold Bitcoin as our primary treasury reserve asset. We’ll continue accumulating this year and beyond.” Travers emphasized that DigitalX has no intention of diversifying into other cryptocurrencies, citing Bitcoin’s unique status as “the king.” He contrasted Bitcoin’s established position with Ethereum and other altcoins, which he described as utility tokens facing intense competition. This focused approach aims to ensure DigitalX’s longevity and growth with high certainty over the next decade, reflecting a conservative yet confident stance on Bitcoin’s role as a store of value.
Broader Market Trends: Non-Crypto Firms Embrace Bitcoin Treasury Strategies
The trend of corporate Bitcoin accumulation extends beyond crypto-native firms. Hong Kong-based DDC Enterprise, owner of food brands like Nona Lim and Yai’s Thai, recently raised $528 million to establish its own Bitcoin treasury. Similarly, Solar Bank, a Canadian renewable energy company, announced plans to begin Bitcoin accumulation despite concerns over the cryptocurrency’s energy consumption. Advocates highlight that an increasing proportion of Bitcoin mining is powered by renewable energy sources, mitigating environmental criticisms. These developments illustrate a growing acceptance of Bitcoin as a strategic asset across diverse industries, signaling a shift in corporate treasury management philosophies worldwide.
Conclusion
DigitalX’s continued Bitcoin acquisitions and strategic capital raises underscore its commitment to positioning Bitcoin as the cornerstone of its treasury portfolio. By aligning with industry leaders and maintaining a focused investment approach, DigitalX exemplifies the evolving corporate landscape where Bitcoin is increasingly viewed as a reliable store of value. As more companies from varied sectors adopt similar strategies, the trend of Bitcoin treasury accumulation is set to shape the future of corporate finance, emphasizing stability and long-term growth potential.
