DigiAsia Stock Jumps 90% After Announcing Bitcoin Buying Plan
Highlights
- DigiAsia shares surged over 90% after unveiling its Bitcoin treasury strategy.
- The firm plans to raise $100 million to begin purchasing Bitcoin.
- Up to 50% of DigiAsia's future net profits will fund BTC acquisitions.
DigiAsia’s stock soared by 91% on May 19, closing at 36 cents. This happened after the company announced it would start holding Bitcoin as part of its treasury plan. The fintech firm, based in Indonesia, said it plans to raise $100 million to begin building its BTC reserves, joining a growing list of public companies turning to digital assets.
The Jakarta-based company, which trades on the Nasdaq under the symbol FAAS, said its board has approved the creation of a Bitcoin treasury. It also committed to putting up to 50% of its future net profits toward buying Bitcoin.
DigiAsia Embraces Bitcoin as a New Reserve Asset
In its statement, DigiAsia announced its plans to diversify ways to earn returns on its Bitcoin, such as lending, staking, or offering crypto-linked financial products. The company is in talks with licensed partners to help manage these digital assets securely.
This move is in line with others, such as MicroStrategy, Metaplanet, and GameStop, which have also added Bitcoin to their balance sheets in recent months.
DigiAsia Stock Spikes, Then Slips, in After-Hours Trade
While DigiAsia’s stock surged during normal trading hours, it fell 22% in after-hours trading to close at 28 cents.
Even with the day’s gain, the stock is still down 53% so far in 2025, after hitting a high of nearly $12 in March.
The company has posted strong business results despite the drop in stock prices. DigiAsia reported $101 million in revenue for 2024, up 36% from last year. It expects $125 million in revenue for 2025 and $12 million in earnings before interest and taxes (EBIT).
Corporate Bitcoin Adoption Continues to Grow
DigiAsia’s move comes as more companies adopt Bitcoin as a reserve asset. Data from Bitbo shows that corporate treasuries now hold over 3 million BTC, worth more than $340 billion. Bitcoin is trading at $105,642, up 2% in the last 24 hours.
With this strategy, DigiAsia has positioned itself as a front-running fintech player in Southeast Asia. Companies are increasingly exploring Bitcoin treasury strategies, with DigiAsia being one of the notable examples. This trend suggests a growing interest in diversifying corporate treasuries with cryptocurrency assets.
Just this week, Basel Medical Group revealed a $1 billion BTC acquisition plan. Meanwhile, Strategy’s 7,390 BTC buy marks one of the largest single-month corporate acquisitions to date.
- Michael Saylor Predicts Bitcoin Will Outperform S&P 500 Forever
- Crypto Market Eyes Upside as FTX Set to Repay $1.6B to Customers
- Elon Musk’s X Vows Crackdown on Bribery Network Behind Crypto Scam Accounts
- Flare Unveils First XRP-Backed Stablecoin, Boosting XRP’s Utility
- MLP Bets Big on Climate Change: Favours Play-To-Impact, Over Play-To-Earn
- Chainlink Price Prediction: Whales Scoop 2M LINK as Analysts Eye 184% Breakout Rally
- Shiba Inu (SHIB) Price Prediction: Massive SHIB Burn and 80-Week Cycle Mirroring Past Rallies: Will History Repeat?
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
