Indonesian fintech company DigiAsia Corp just made waves on Wall Street—and the crypto world is watching closely.
The Jakarta-based firm saw its shares surge 91% in a single day after revealing plans to raise $100 million and start building a Bitcoin treasury reserve. Notably, DigiAsia committed to using up to 50% of its net profits to accumulate Bitcoin (BTC), signaling a bold leap into the crypto space.
In its May 19 announcement, DigiAsia confirmed its board had signed off on the strategy and that it's already exploring partnerships with regulated firms to generate yield from its future BTC holdings through lending and staking. It’s also weighing the launch of convertible notes or crypto-linked financial instruments to support the initiative.
Bitcoin Buzz Sends DigiAsia Shares Flying
Following the announcement, DigiAsia (NASDAQ: FAAS) closed at 36 cents, a sharp jump of over 90%, according to Google Finance. However, post-market trading saw the stock cool down by 22% to 28 cents. Despite the recent buzz, shares are still down over 50% for the year, having peaked at nearly $12 back in March 2024.
Financially, DigiAsia seems poised for growth. In its April 1 update, the company reported $101 million in revenue for 2024, marking a 36% year-over-year increase. It’s projecting $125 million in revenue for 2025 with $12 million in expected EBIT (earnings before interest and taxes).
Bitcoin Treasury Trend Goes Mainstream
DigiAsia joins a growing list of companies transforming their balance sheets with Bitcoin. MicroStrategy remains the leader with 576,230 BTC—currently valued near $60.9 billion. Meanwhile, Strive Asset Management and GameStop are also making moves into the Bitcoin treasury world.
Japan’s Metaplanet recently made headlines with one of the largest BTC buys in history, acquiring 1,004 Bitcoin. Corporate Bitcoin holdings now top 3 million BTC, worth over $340 billion, according to Bitbo data.
Crypto heavyweights like Blockstream CEO Adam Back predict this treasury trend could help catapult Bitcoin’s market cap to $200 trillion in the next decade. Currently, BTC trades at $105,642, with a market cap around $2 trillion, according
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