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Bitcoin Buys: DigitalX, The Blockchain Group Spend Millions
DigitalX and The Blockchain Group have made significant investments in Bitcoin, further solidifying their commitment to the cryptocurrency’s potential as a strategic treasury asset. In a move that highlights the growing trend of institutional investment in the digital gold standard, the two firms have collectively injected millions into Bitcoin.
According to reports, DigitalX has raised $13.5 million through a strategic placement with Animoca Brands and other top-tier investors. Of this amount, $12.8 million will be directly used to acquire more Bitcoin as a reserve asset. The move was facilitated by a placement priced at $0.048 per share, accompanied by warrants exercisable at $0.098, valid for 18 months.
In addition to the raise, DigitalX has also announced the creation of a Strategic Advisory Board featuring Animoca Brands’ Executive Chairman Yat Siu and Web3 veteran Hervé Larren. Notably, Yat Siu has expressed support for Bitcoin’s potential as a digital gold standard, stating that “We believe Bitcoin is the digital gold and reserve asset of the decentralized era.”
Meanwhile, The Blockchain Group has completed a €3 million capital increase ($3.5 million) to continue its aggressive Bitcoin accumulation strategy. This move aligns with the firm’s goal of increasing the amount of Bitcoin held per share over time.
Furthermore, TBG revealed that it purchased 116 BTC worth $12.56 million through a mix of the recent capital raise and convertible bond issuance on July 7. The company’s year-to-date Bitcoin treasury yield now stands at an eye-popping 1,348%, showcasing the remarkable rise in BTC’s value and the effectiveness of its strategic accumulation.
This significant investment highlights the growing trend of institutional investors increasing their exposure to Bitcoin.
Source: www.coinspeaker.com
