#BinanceAlphaAlert

DigiAsia, a company listed on Nasdaq, plans to raise $100 million for Bitcoin purchases.

The shares of DigiAsia, a little-known firm based in Singapore focused on the Southeast Asian market, soared more than 90% after news broke of a potential treasury reserve in bitcoin.

DigiAsia Corp (FAAS) plans to raise up to $100 million to fund a treasury reserve in bitcoin (BTC), joining an increasing list of publicly traded companies looking to diversify their corporate balances with bitcoin.

Monday's announcement (which emphasized plans rather than executed actions) helped DigiAsia's shares rise 91% during regular trading to 36 cents, before dropping 22% in after-hours trading. The stock still records a drop of more than 50% year-to-date.

The company indicated that its board of directors approved a strategy to allocate up to 50% of future net profits towards BTC purchases and that it was "actively exploring" a capital increase of up to $100 million, according to a press release.$BTC