DigitalX and TBG Don Raise $17M to Boost Bitcoin Treasury
DigitalX, weh dey ASX list for crypto fund management, collect US$13.5 million for strategic placement wey Animoca Brands, UTXO Management, and ParaFi Capital lead. From dis amount, dem dey use US$12.8 million add to Bitcoin reserves through share placement at US$0.048 per share, plus 18-month warrants at US$0.098. DigitalX sef form Strategic Advisory Board resum Animoca man Yat Siu and Web3 oga Hervé Larren. France own The Blockchain Group (TBG) don finish €3 million capital increase under ATM agreement wit TOBAM, average price €4.76 per share. For July 7, TBG use part of new money plus convertible bond release to buy 116 BTC (~US$12.6 million), push their year-to-date treasury yield to 1,348%. Bitcoin don dey trade between US$107,000 and US$110,000 these recent days, currently about US$108,300, around 3% less than e all-time high of US$111,000. Dis coordinated fundraising show say corporate treasury management dey trend more to collect Bitcoin and show say institutional support strong.
Bullish
DigitalX and TBG dem join get fund wey pass US$17 million, plus more than US$25 million wey dem put for Bitcoin buying, e show say institutional demand strong well well. For short term, dis buying pressure fit make spot supply tight, wey go support price stability sharp sharp. For long term, companies dey still dey collect treasury and high-profile advisor appointments dey make market sabi say Bitcoin na better reserve asset, e ginger bullish outlook.