- DigitalX (DCC) reports a 19.6 per cent increase in its Bitcoin fund and an 11.4 per cent increase in its DigitalX fund over the month of March
- In its monthly update on its digital asset exposure, the fund manager said the S&P Cryptocurrency Top 10 Equal Weight Index rose 1.5 per cent
- DigitalX once again put its outperformance down to the company’s “overweight” holdings in Bitcoin and Ethereum
- DCC CEO Lisa Wade says the recent collapse of several prominent banks is a reminder to the market of why Bitcoin was invented
- DCC shares are down 5.13 per cent and trading at 3.7 cents at 1:44 pm AEST
DigitalX (DCC) has reported a 19.6 per cent increase in its Bitcoin fund and an 11.4 per cent increase in its DigitalX fund over the month of March.
For Reference, the fund manager said the S&P Cryptocurrency Top 10 Equal Weight Index rose 1.5 per cent – meaning the company well outperformed the index.
DigitalX said the performance of both its funds was a result of the positive price appreciation of larger capitalisation digital assets, which outperformed other digital assets as well as global equity indices and gold in March.
“We believe the recent collapse of several prominent banks was a reminder to the broader market of why Bitcoin was invented – as per the Bitcoin Whitepaper: A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution,” DCC Chief Executive Officer Lisa Wade said.
The actively-managed DigitalX fund outperformed the S&P Cryptocurrency Top 10 Equal Weight Index largely due to the company’s holdings in Bitcoin and Ethereum.
The company said its funds have had a “strong” start to the year, with its Bitcoin fund reaching 69.1 per cent over the March quarter and the DigitalX fund returning 47 per cent, while the Index rose 50.3 per cent.
The company is currently commercialising its first regtech solution, which will support listed companies in managing compliance and corporate governance policies.
DCC shares were down 5.13 per cent and trading at 3.7 cents at 1:44 pm AEST.