Shares in DigiAsia Corp, an Indonesian fintech firm, soared over 91% on May 19 following the company’s announcement to raise $100 million for Bitcoin acquisitions as part of its new treasury strategy.
Based in Jakarta, DigiAsia disclosed that its board has sanctioned the establishment of a Bitcoin treasury reserve.
The company aims to allocate up to 50% of its net profits for Bitcoin purchases, reflecting a significant shift in its capital management approach amid a rising corporate interest in digital currencies.
DigiAsia Eyes $100M Raise to Fuel Bitcoin Treasury Plan
In addition to reinvesting profits into Bitcoin, DigiAsia is actively pursuing a capital raise of up to $100 million to expand its digital asset holdings.
The firm indicated that discussions are underway with regulated partners to devise yield-generating strategies for its Bitcoin, which may include lending and staking options.
DigiAsia is also considering the issuance of convertible notes and crypto-linked financial instruments to bolster its treasury plans.
On the trading floor, the stock—listed under the ticker FAAS—closed that Monday at $0.36, marking a substantial gain of over 91%. However, after-hours trading saw a decline, with shares dropping to $0.28. Despite this recent upswing, DigiAsia’s stock remains down nearly 53% year-to-date, having reached a high of nearly $12 in March.
In its financial report for April, DigiAsia revealed a 36% growth in annual revenue, totaling $101 million for 2024, with projections of $125 million for 2025 alongside anticipated earnings before interest and taxes of $12 million.
DigiAsia is part of a growing trend among companies integrating Bitcoin into their financial strategies. Major players like MicroStrategy, which owns over 576,000 BTC valued at approximately $60.9 billion, have paved the way.
Digiasia Corp (FAAS), perusahaan teknologi finansial (fintech) yang berbasis di Jakarta, berencana membentuk cadangan Bitcoin (BTC) strategis untuk kas perusahaan dengan modal US$100 juta atau setara Rp1,6 triliun. pic.twitter.com/8OrV7GCHMs
— Akademi Crypto (@akademicryptoid) May 20, 2025
Other companies, like Strive Asset Management and GameStop, have also reported intentions to pursue similar capital-raising strategies.
Corporations now collectively hold more than three million BTC, amounting to over $340 billion, according to Bitbo data.
Industry leaders, including Blockstream CEO Adam Back, suggest this trend is boosting Bitcoin adoption and could elevate its market capitalization to $200 trillion within the next decade.
Currently, Bitcoin’s market capitalization is around $2 trillion, with the asset trading at $105,642, reflecting a 2% increase over the past 24 hours.
Public Companies Increase Bitcoin Exposure
The Virginia-based company recently declared its intention to double its capital-raising efforts to $84 billion to facilitate further Bitcoin acquisitions.
This plan includes the sale of an additional $21 billion in common stock, following the complete utilization of a previously authorized program in October.
In tandem with equity sales, Strategy has also raised its debt issuance target from $21 billion to $42 billion, with $14.6 billion still available under current authorizations.
This trend reflects an escalating institutional interest in Bitcoin. During the first quarter, publicly listed companies collectively grew their Bitcoin holdings by 16.1%, showcasing sustained confidence in the asset amid ongoing market fluctuations.
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