DigiAsia Stock Jumps 90% After Announcing Bitcoin Buying Plan

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.