DigitalX (ASX:DCC) shares got a boost this morning, after Elon Musk sent Bitcoin back into orbit with some big buying news.

The blockchain tech company had no market-moving announcements, but the stock has risen consistently since BTC first started surging in November.

From July levels of around 2c, the stock rose to around 12c in November as Bitcoin climbed back above its previous all-time high of $US20,000.

And it was one of this morning’s biggest gainers following the big news overnight of Tesla’s $US1.5bn Bitcoin investment.

Shares in the company rose by as much as 21.74 per cent in early trade after rising strongly pre-market.

Along with its acquisition, Elon Musk’s EV company also flagged plans to accept Bitcoin as a form of payment, although that’s not yet set in stone.

In its 4C filing for the December quarter, DCC booked net operating cash outflows of $428,000 on cash receipts from customers of $150,000.

The company operates an asset management arm which serves a target market of sophisticated investors, offering exposure to Bitcoin and other cryptocurrencies.

While early growth in the funds management business was “lower than targeted, funds under management are approaching $20m and continuing to grow”, DCC said.

And through its fund, DCC provides indirect exposure to price movements in Bitcoin through the company’s own digital asset holdings.

As at the end of December, the company held 215.95 Bitcoins.

Those assets make up the DigitalX Bitcoin Fund — an unlisted fund structure that offers “qualifying investors, including family offices and high net worth individuals, a low-cost and familiar vehicle to gain exposure to this growing asset class”, DCC said.

“The challenges in acquiring Bitcoin from cryptocurrency exchanges, storing them securely and managing tax and audit complexities have been the biggest barriers to entry for potential Bitcoin investors,” DCC said in its annual report last year.

“The DigitalX Bitcoin Fund was specifically built to solve these pain points for investors.”

And since December 31, the price of those Bitcoins has increased materially.

As at December 31, DCC reported the value of its BTC assets at $8,125,640, based on a closing price of $US31,114 per coin.

At this morning’s BTC value of around $US46,800, that number has increased by around $2m in the space of less than two months.

Along with its Bitcoin holdings, BTC also operates a regtech app called Drawbridge — a compliance tool that uses blockchain technology to help foster the orderly acquisition and disposal of securities by ASX company directors.