#bitcoin Indonesia’s DigiAsia shares pop 90% on plan to raise $100M to buy Bitcoin DigiAsia shares have doubled in one day after the company said it’s planning to raise $100 million, and use half of its profits, to buy Bitcoin Shares 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.
The Jakarta-based Nasdaq-listed company said on May 19 that its board of directors approved creating a Bitcoin
$106,117
“treasury reserve” and it was “committing up to 50% of any net profits generated to fund the acquisition of BTC.”
DigiAsia said it was also “actively exploring a capital raise of up to US$100 million” to kickstart its Bitcoin holdings and would look to earn yield on its holdings through means like lending and staking.DigiAsia said it had “initiated discussions with regulated partners” 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.
DigiAsia stocks explode on Bitcoin plans
Shares in DigiAsia Corp (FAAS) closed May 19 trading at a gain of just over 91% at 36 cents after the company’s Bitcoin announcement, according to Google Finance.
