DigiAsia Stock Surges as Company Unveils Bold Bitcoin Treasury Strategy

Shares of Indonesian fintech firm DigiAsia Corp skyrocketed after the company announced plans to raise $100 million to build a Bitcoin treasury reserve. On May 19, the Nasdaq-listed company revealed its board of directors had approved a strategy to allocate up to 50% of net profits toward acquiring Bitcoin, marking its entry into the growing trend of corporate crypto holdings.

The Jakarta-based company also said it is exploring a $100 million capital raise to kickstart the reserve. DigiAsia aims to generate yield from its Bitcoin holdings by leveraging tools such as crypto lending and staking. In a public statement, the firm confirmed that discussions are underway with regulated partners to determine the most efficient ways to manage and monetize its Bitcoin assets.

Additionally, DigiAsia is evaluating the potential issuance of convertible notes or other financial instruments linked to its upcoming Bitcoin acquisitions. 

Shares Jump 91% Following Bitcoin Move

Investors responded swiftly to the announcement, sending DigiAsia (FAAS) shares up more than 91% to close at $0.36 on May 19, according to Google Finance. However, the momentum cooled after the closing bell, with shares falling back 22% to $0.28 in after-hours trading. 

Despite the temporary lift, the company’s stock remains down around 53% for the year, after peaking near $12 in March 2024.

Financially, DigiAsia reported strong performance earlier in the year. In an April 1 update, the firm noted a 36% increase in year-over-year revenue, reaching $101 million in 2024. It projects $125 million in revenue for 2025, along with $12 million in earnings before interest and taxes, suggesting continued growth as it pivots toward crypto integration.

Bitcoin Treasuries Gain Ground Among Public Firms

DigiAsia joins a growing list of companies embracing Bitcoin as a treasury asset. Strategy, formerly MicroStrategy, currently holds the largest BTC stash among public firms, with 576,230 coins valued at nearly $60.9 billion. Strive Asset Management and GameStop have also made recent moves to hold Bitcoin as part of their financial strategies.

According to Bitbo data, corporate treasuries collectively hold over 3 million BTC—worth more than $340 billion. Bitcoin’s market cap stands at around $2 trillion, with the price at $105,642, up 2% in the past 24 hours, according to CoinGecko. 

As more firms like DigiAsia adopt Bitcoin, industry leaders believe this trend could play a key role in Bitcoin’s continued global adoption.

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