DigiAsia is seeking to raise $100 million to acquire Bitcoin as institutional interest continues to rise.

DigiAsia plans to allocate 50% of its profits toward Bitcoin investments, utilizing tools such as convertible debt and crypto-related products to enhance its Bitcoin reserve. The company, based in Jakarta, is following in the footsteps of firms like Strategy and Japan’s Metaplanet in increasing its Bitcoin assets, resulting in a 216% surge in its stock price on Monday. DigiAsia has outlined its strategy to obtain Bitcoin through both its profits and funds raised in the market. Following the board’s approval, the company is establishing a Bitcoin reserve to assist its operations in emerging markets. DigiAsia Reveals Plans for $100M Bitcoin Purchase. In a statement released on Monday, DigiAsia announced their plan to allocate half of their profits from each second half towards buying Bitcoin. The company plans to secure as much as $100 million through different means, including convertible debt, stock transactions, and cryptocurrency-related offerings. They plan to utilize the funds to purchase Bitcoin and develop additional strategies for generating income with the asset. Discussions are already underway with regulated partners about managing the treasury and potential earnings from Bitcoin holdings. DigiAsia is implementing these measures as it joins a number of publicly traded companies that are managing digital assets in their financial records. Following the announcement, the market responded quickly. On Monday, during standard trading hours, DigiAsia’s stock on the Nasdaq rose by 91% and finished at $0.3553. Following the market’s closure, there appeared to be a decline in investor confidence, leading to a roughly 23% decrease in the company’s stock price, as reported by Yahoo Finance.