DigitalX Boosts Bitcoin Holdings Amid Scrutiny
DigitalX (ASX:DCC) plans to significantly increase its Bitcoin holdings, aiming to raise its reserves from approximately 500 to 2100 Bitcoin by 2027. The company intends to position cryptocurrency as the core asset of its digital treasury, viewing this move as a hedge against inflation and a liquid store of value. DigitalX plans to fund this substantial accumulation through a combination of asset conversions, strategic debt instruments, equity raises, and operating revenue. DigitalX is an investment management firm that specialises in digital assets, offering investment opportunities in blockchain technology and cryptocurrencies. The company provides managed funds and other investment products focused on the digital asset space.
Meanwhile, DigitalX is under scrutiny from the Australian Securities Exchange (ASX) following recent share purchases by one of its directors. Ieva Guoga, who joined the company in May, reportedly purchased over 3 million shares just days before DigitalX announced its acquisition strategy aimed at revenue growth, according to a report in The Australian Financial Review on Monday. This timing has raised questions with the ASX.
The ASX has sent a series of inquiries to DigitalX regarding Ieva Guoga’s dealings, particularly concerning her relationship with her father, Antanas Guoga. Antanas Guoga, the group’s largest shareholder, is a former member of the European Parliament for Lithuania and a former professional poker player. The ASX is seeking further clarification on these connections and their potential impact on the company’s governance and financial activities.
DigitalX must now address the ASX’s questions while simultaneously executing its plan to bolster its Bitcoin reserves. The outcome of the ASX’s inquiries could have implications for the company’s future operations and its relationship with regulatory bodies.
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