ASX-Listed DigitalX Invests Additional $8.8M in Bitcoin, Approaches 500 BTC in Total Holdings.
Australia’s only ASX-listed cryptocurrency fund manager, DigitalX, has increased its Bitcoin holdings with the purchase of 74.7 BTC for approximately $8.8 million.
ASX-listed blockchain technology company DigitalX (ASX: DCC) has further deepened its commitment to Bitcoin by acquiring an additional $8.8 million worth of the cryptocurrency.
The latest investment brings the company’s total holdings to nearly 500 BTC, underlining a clear and deliberate accumulation strategy that aligns with a growing trend among institutions hedging against macroeconomic uncertainty and inflation.
Another Strategic Bitcoin Purchase Elevates Treasury Value to Over $100 Million.
DigitalX revealed in its recent investor update that it had made a significant purchase of Bitcoin during the last quarter, reinforcing its long-term thesis on digital assets, especially Bitcoin, as a store of value.
The $8.8 million investment translates to approximately 130 BTC at current market prices, pushing the firm’s total holdings close to the 500 BTC mark worth over $33 million at current valuations.
CEO Lisa Wade emphasized that the company views the coin as both a strategic reserve asset and a critical component of its balance sheet diversification. “This investment is not just about price speculation. We believe Bitcoin will play a key role in the future of finance, and we are positioning ourselves accordingly,” she stated.
Institutional Accumulation on the Rise.
The company’s move mirrors a broader institutional trend that gained momentum following landmark decisions such as the U.S. SEC’s approval of multiple spot BTC ETFs earlier this year.
These developments have increased the legitimacy and accessibility of Bitcoin investments worldwide. Firms, ranging from asset managers to public companies, have increasingly begun allocating parts of their treasuries to the largest coin.
As one of the few public companies in Australia actively investing in Bitcoin, DigitalX sets a precedent in the region. Its approach resembles that of U.S.-based firms like MicroStrategy, which has made headlines for its aggressive BTC accumulation strategy.
BTC as a Treasury Reserve Asset.
They began investing in the apex coin years ago and have maintained an open stance on expanding their holdings in line with market opportunities and company performance. The company sees Bitcoin as an inflation-resistant, non-sovereign store of value and a hedge against fiat currency debasement.
The company also believes that its BTC holdings enhance its brand as a pioneer in blockchain innovation, aligning its core financial position with its long-standing mission of driving digital transformation and promoting decentralized finance.
