Australia’s DigitalX Ramps Up Bitcoin Holdings to Near 500 BTC
DigitalX has significantly increased its Bitcoin reserves, acquiring 74.7 BTC worth approximately $8.8 million at an average price of $117,293, bringing its total holdings to nearly 500 BTC.
Key Details
- Total Bitcoin holdings: 499.8 BTC
- Direct holdings: 306.8 BTC
- ETF holdings: 193 BTC
- Total value: ~$91.3 million
Continuing Strategy
CEO Michael Saylor continues to view Bitcoin as the primary treasury reserve asset. This purchase follows a previous acquisition of 57.5 BTC earlier this month, pushing the company’s treasury reserves beyond the $100 million threshold.
Growing Trend
DigitalX’s move aligns with a broader corporate adoption of Bitcoin, similar to MicroStrategy (now Strategy) which holds over 597,000 BTC. Japanese firm Metaplanet has also gained recognition for its Bitcoin-focused strategy, earning the nickname “Asia’s MicroStrategy.”
Strategic Focus
Leigh Travers, non-executive chairman of DigitalX, confirmed the company’s exclusive focus on Bitcoin as a long-term treasury asset. “Bitcoin is the king. Ethereum and other altcoins…are competing with many other competitors,” said Travers.
Financial Move
DigitalX recently raised $13.5 million, with $12.8 million allocated for Bitcoin purchases. The company has also established a strategic advisory board featuring Web3 advisors.
Industry Expansion
This trend extends beyond crypto-native firms. Regulatory-friendly companies like DDC Enterprise and Solar Bank are also establishing Bitcoin treasuries, following the pioneering approach established by early Bitcoin adopters.
