DigiAsia Shares Soar 91% After $100M Bitcoin Treasury Plan
- DigiAsia is actively exploring a capital raise of more than $100 million to boost its holdings.
- Overall, corporate treasuries now hold more than three million Bitcoins, estimated at over $340 billion.
DigiAsia Corp, a fintech firm hailing from Indonesia, has witnessed its share surging by more than 91% on May 19. The surge was reportedly followed by the firm’s announcement of a plan to generate $100 million to start Bitcoin purchases as part of a new treasury strategy.
The fintech firm has revealed that it has intentions to allocate up to 50% of its net profits towards accumulating Bitcoin, indicating a shift in how it plans to direct its capital amid growing interest in digital assets.
DigitAsia has further plans to generate $100 million to power the Bitcoin Treasury Plan. Adding more to this, the firm is actively exploring a capital raise of more than $100 million to boost its holdings.
The firm highlighted that it is in conversation with regulated collaborators to develop yield-generating strategies for its Bitcoin, including lending and staking. DigiAsia is also considering issuing convertible notes and crypto-associated financial instruments to back its treasury initiative.
BTC Corporate Treasury
The stock of the company, which trades under the ticker FAAS, closed on May 19 at $0.36- a gain of over 91% on the day. After some hours of trading, shares slipped to $0.28. In the April financial update, DigiAsia listed a 36% increase in annual revenue, touching the $101 million mark in 2024.
It estimates revenues of $125 million for this year, besides anticipated earnings before interest and taxes of $12 million. The company is now on a growing list of companies moving Bitcoin onto their balance sheets.
Firms like MicroStrategy, holding over 576,000 BTC worth an estimated $60.9 billion, have led the way. Some other companies, such as Strive Asset Management and GameStop, have publicized plans or generated capital for similar strategies.
Overall, corporate treasuries now hold more than three million Bitcoins, estimated at over $340 billion, as per the data from Bitbo. Industry figures such as Blockstream CEO Adam Back claim that the trend is skyrocketing Bitcoin adoption and could move its market capitalization to $200 trillion in the next ten years.
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DigiAsia Shares Soar 91% After $100M Bitcoin Treasury Plan
- DigiAsia is actively exploring a capital raise of more than $100 million to boost its holdings.
- Overall, corporate treasuries now hold more than three million Bitcoins, estimated at over $340 billion.
DigiAsia Corp, a fintech firm hailing from Indonesia, has witnessed its share surging by more than 91% on May 19. The surge was reportedly followed by the firm’s announcement of a plan to generate $100 million to start Bitcoin purchases as part of a new treasury strategy.
The fintech firm has revealed that it has intentions to allocate up to 50% of its net profits towards accumulating Bitcoin, indicating a shift in how it plans to direct its capital amid growing interest in digital assets.
DigitAsia has further plans to generate $100 million to power the Bitcoin Treasury Plan. Adding more to this, the firm is actively exploring a capital raise of more than $100 million to boost its holdings.
The firm highlighted that it is in conversation with regulated collaborators to develop yield-generating strategies for its Bitcoin, including lending and staking. DigiAsia is also considering issuing convertible notes and crypto-associated financial instruments to back its treasury initiative.
BTC Corporate Treasury
The stock of the company, which trades under the ticker FAAS, closed on May 19 at $0.36- a gain of over 91% on the day. After some hours of trading, shares slipped to $0.28. In the April financial update, DigiAsia listed a 36% increase in annual revenue, touching the $101 million mark in 2024.
It estimates revenues of $125 million for this year, besides anticipated earnings before interest and taxes of $12 million. The company is now on a growing list of companies moving Bitcoin onto their balance sheets.
Firms like MicroStrategy, holding over 576,000 BTC worth an estimated $60.9 billion, have led the way. Some other companies, such as Strive Asset Management and GameStop, have publicized plans or generated capital for similar strategies.
Overall, corporate treasuries now hold more than three million Bitcoins, estimated at over $340 billion, as per the data from Bitbo. Industry figures such as Blockstream CEO Adam Back claim that the trend is skyrocketing Bitcoin adoption and could move its market capitalization to $200 trillion in the next ten years.
Highlighted Crypto News Today:
Dubai VARA Sets June 19 Deadline for Crypto Firms to Comply with New Rules
Read More