{"id":129597,"date":"2025-05-20T05:15:52","date_gmt":"2025-05-20T05:15:52","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129597"},"modified":"2025-05-20T05:15:52","modified_gmt":"2025-05-20T05:15:52","slug":"indonesias-digiasia-shares-pop-90-on-plan-to-raise-100m-to-buy-bitcoin","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129597","title":{"rendered":"Indonesia\u2019s DigiAsia shares pop 90% on plan to raise $100M to buy Bitcoin"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsShares in the Indonesian fintech firm DigiAsia Corp nearly doubled after the company said it plans to raise $100 million to seed its first of many Bitcoin buys.<br \/>\nThe Jakarta-based Nasdaq-listed company said on May 19 that its board of directors approved creating a Bitcoin (BTC) \u201ctreasury reserve\u201d and it was \u201ccommitting up to 50% of any net profits generated to fund the acquisition of BTC.\u201d<br \/>\nDigiAsia said it was also \u201cactively exploring a capital raise of up to US$100 million\u201d to kickstart its Bitcoin holdings and would look to earn yield on its holdings through means like lending and staking.<br \/>\nDigiAsia said it had \u201cinitiated discussions with regulated partners\u201d on yield strategies and managing its planned Bitcoin holdings. The company added that it was also assessing whether to offer convertible notes or crypto finance instruments linked to its planned Bitcoin haul.\u00a0<br \/>\nDigiAsia stocks explode on Bitcoin plans<br \/>\nShares in DigiAsia Corp (FAAS) closed May 19 trading at a gain of just over 91% at 36 cents after the company\u2019s Bitcoin announcement, according to Google Finance.<br \/>\nDigiAsia\u2019s Bitcoin plan has seen its stock price rise over 90% in the regular trading session. Source: Google FinanceHowever, after the bell, DigiAsia stock dropped 22% to 28 cents. The company\u2019s shares are down nearly 53% so far this year, having peaked at just under $12 in March 2024.\u00a0<br \/>\nIn a financial update on April 1, DigiAsia reported its revenues grew 36% year-on-year to $101 million in 2024. It projected growth of 24% to $125 million in 2025, along with earnings before interest and taxes of $12 million.<br \/>\nA growing number of companies are adding Bitcoin to their corporate holdings, following its popularization by Michael Saylor\u2019s Strategy, formerly MicroStrategy, which has the largest Bitcoin holdings of any public company at 576,230 BTC, worth nearly $60.9 billion.<br \/>\nStrive Asset Management announced on May 7 that it\u2019s going to transition into a Bitcoin treasury company, and video game retailer GameStop Corporation (GME) finished a convertible debt offering on April 1 that raised $1.5 billion, with some proceeds earmarked for buying Bitcoin.\u00a0<br \/>\nRelated: Metaplanet scoops 1,004 Bitcoin in 2nd-biggest buy ever<br \/>\nCorporate Bitcoin treasuries collectively hold over three million in Bitcoin, worth over $340 billion, according to Bitbo data.<br \/>\nBlockstream co-founder and CEO Adam Back predicted that firms with Bitcoin-focused treasuries are driving global adoption and could push Bitcoin\u2019s market cap hit $200 trillion in the coming decade.\u00a0<br \/>\nBitcoin\u2019s market cap is currently sitting at around $2 trillion, with BTC changing hands  at $105,642, up 2% in the past day, according to CoinGecko.\u00a0<br \/>\nMagazine: Rise of MicroStrategy clones, Asia dominates crypto adoption: Asia Express 2024 review<a href=\"https:\/\/cointelegraph.com\/news\/digiasia-shares-gain-90-percent-100-million-raise-for-bitcoin?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsShares in the Indonesian fintech firm DigiAsia Corp nearly doubled after the company said it plans to raise $100 million to seed its first of many Bitcoin buys.&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129597"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129597"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129597\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129597"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}