DigitalX Secures $13.5M from Animoca’s Yat Siu for Bitcoin Acquisition—Bullish Move?
DigitalX just made a power play—snagging $13.5 million in funding with Animoca’s Yat Siu leading the charge. Their target? Bitcoin. Because why diversify when you can double down on crypto’s OG asset?
The Backers Bet Big
Yat Siu’s involvement isn’t just a vote of confidence—it’s a neon sign flashing ‘institutional appetite’ for Bitcoin. Animoca’s Web3 clout meets DigitalX’s aggressive accumulation strategy. Cue the price speculation.
Timing Is Everything
With Bitcoin hovering at [insert latest price—because of course we checked], the raise feels either brilliantly opportunistic or dangerously late. TradFi analysts are already sharpening their ‘I told you so’ tweets.
The Bottom Line
DigitalX isn’t hedging. They’re all-in on Bitcoin—because nothing says ‘conviction’ like spending eight figures to join the HODLer elite. Meanwhile, Wall Street still thinks ‘blockchain’ is a type of Excel formula.
The Bitcoin strategy
Asked about the risks of companies shifting to Bitcoin-heavy strategies, Siu said it depends on how the assets are acquired. “In an equity raise, like this one, risk is fairly low. If it is debt, potentially higher, but it depends on what the security is.”
The trend first gained traction after Strategy began aggressively purchasing Bitcoin in August 2020, mainly through convertible debt offerings. Led by Michael Saylor, the firm has since become the largest corporate holder of Bitcoin, with over 597,000 BTC.
Japan’s Metaplanet has followed a similar path, positioning itself as “Asia’s MicroStrategy” by acquiring Bitcoin through a combination of equity and planned debt raises.
“The trend to put Bitcoin on the balance sheet is markets marketing too, not too dissimilar from other trends,” sui said. “The question to ask is ‘Is the company putting Bitcoin or any other token on its balance sheet serious for the long term, or just seeking attention?”
He noted that while the Bitcoin-on-balance-sheet trend is growing, motivations vary.
“That is not unlike tokens,” he added. “You seek attention, and when putting Bitcoin on your balance sheet, it gives attention, it supports it, but that won’t last when everyone has it.”
“My general advice is: look for companies that are building or have true expertise around it, and then it becomes your access/hedge/investment into a Bitcoin future of sorts if that is the approach you like,” Siu said.
When asked if the current capital raise marked the extent of DigitalX’s Bitcoin strategy, Siu responded simply: “Deeper. This is the beginning, not the end.”
