DigitalX Reports Monthly Update on Bitcoin and Digital Asset Exposure Digitalx Limited

DigitalX Reports Monthly Update on Bitcoin and Digital Asset Exposure

DigitalX Limited (ASX:DCC) has released its monthly update on funds under management and the value of its Bitcoin and digital asset holdings as of the end of May 2023. The company reported a 4. 5% decline in the DigitalX Bitcoin Fund and a 1. 8% decline in the DigitalX Fund, compared to a 3. 3% fall in the S&P Cryptocurrency Top 10 Equal Weight Index. However, the DigitalX Fund performed in line with the Index, benefiting from a 1. 7% depreciation in the Australian Dollar.

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Market Reaction to Macroeconomic Environment

Digital asset prices remained highly correlated to the macroeconomic environment, particularly in response to protracted negotiations on the proposed debt ceiling bill. However, a last-minute deal by US legislators caused digital asset prices to rise towards the end of the month. Throughout May, Bitcoin miners experienced increased revenue due to the growing popularity of BRC-20 tokens and NFTs on the Bitcoin network, leading to record-breaking transaction volumes and higher block rewards.

Secure Custodian and Insurance

All assets held by the DigitalX Fund are secured with an institutional-grade custodian and backed by insurance, providing investors with peace of mind and protection.

Comment from DigitalX CEO

DigitalX CEO Lisa Wade highlighted the growing activity and innovation in the core crypto sectors captured by the DigitalX Fund. She stated, "Our team maintains its focus on a safe pair of hands approach by undertaking consistent and rigorous analysis in the positions we hold in the portfolio. " Wade also noted the importance of regulatory certainty in the market and expressed satisfaction that the European MiCA Regulation was officially legislated during the month. Additionally, she mentioned the potential positive impact of the proposed licensing framework in Hong Kong on the long-term outlook of digital assets.

As the cryptocurrency market continues to evolve, DigitalX remains committed to carefully navigating market conditions and investing in innovative digital assets that have the potential to deliver long-term value for investors.

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#ASX:DCC DigitalX Reports Monthly Update on Bitcoin and Digital Asset Exposure

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