DigitalX and TBG Raise $17M to Bolster Bitcoin Treasury
DigitalX, an ASX-listed crypto fund manager, secured US$13.5 million in a strategic placement led by Animoca Brands, UTXO Management and ParaFi Capital. Of this, US$12.8 million will fund additional Bitcoin reserves through a share placement at US$0.048 per share, with 18-month warrants at US$0.098. DigitalX also formed a Strategic Advisory Board featuring Animoca’s Yat Siu and Web3 veteran Hervé Larren.
France’s The Blockchain Group (TBG) completed a €3 million capital increase under an ATM agreement with TOBAM, at an average price of €4.76 per share. On July 7, TBG used part of the new funds and a convertible bond issuance to acquire 116 BTC (~US$12.6 million), pushing its year-to-date treasury yield to 1,348%.
Bitcoin has traded between US$107,000 and US$110,000 in recent days, currently around US$108,300, about 3% below its all-time high of US$111,000. These coordinated fundraising rounds reflect a growing trend in corporate treasury management toward Bitcoin accumulation and underscore strong institutional support.
Bullish
DigitalX and TBG’s combined fundraising of over US$17 million, with more than US$25 million allocated to Bitcoin purchases, highlights strong institutional demand. In the short term, this buying pressure is likely to tighten spot supply, supporting near-term price stability. Over the long term, continued corporate treasury accumulation and high-profile advisory appointments reinforce market confidence in Bitcoin as a preferred reserve asset, fostering a bullish outlook.