Indonesia's DigiAsia Invests $100 Million in Bitcoin, Stock Price Soars 90%!

Indonesian fintech company DigiAsia has announced it will raise $100 million, planning to use half of its net profit to purchase Bitcoin. Following this news, the stock price nearly doubled on the same day.

The Jakarta-based company has received board approval to establish a Bitcoin treasury, preparing to initiate its first large-scale BTC holdings. DigiAsia is also actively researching lending and staking methods to profit from Bitcoin assets while considering issuing convertible bonds or financial instruments linked to Bitcoin.

On May 19, after the announcement, DigiAsia's stock price peaked at 36 cents, an increase of over 91%, although it fell back to 28 cents after closing. However, it has still dropped by more than half this year. The company expects a 36% year-on-year revenue increase in 2024, with a further 24% growth projected for 2025, and an EBITDA of $12 million.

Since MicroStrategy led the trend of companies buying Bitcoin, more and more companies have followed suit. The well-known firm Strive Asset Management has announced its transformation into a Bitcoin fund, and game retailer GameStop has partially allocated funds to BTC through the issuance of $1.5 billion in bonds. Corporate Bitcoin holdings have now exceeded 3 million coins, with a total value of over $340 billion.

Blockstream co-founder Adam Back predicts that corporate treasuries focused on Bitcoin will ignite a global adoption wave, with Bitcoin's market value potentially skyrocketing to $200 trillion in the next decade.

Currently, Bitcoin's market value is approximately $2 trillion, with prices stabilizing around $105,000, continuing to attract capital inflows.