In a bold move that’s sending ripples through both Southeast Asian finance and the global crypto market, Indonesia-based fintech company DigiAsia Corp has seen its shares skyrocket following its ambitious plan to embrace Bitcoin as part of its financial strategy.
On May 19, the Jakarta-headquartered company — which trades on the Nasdaq under the ticker FAAS — revealed that it plans to raise up to $100 million to begin building a Bitcoin treasury reserve, joining a growing list of publicly traded firms integrating crypto into their balance sheets.
But DigiAsia isn’t stopping at just acquiring Bitcoin. The company’s board approved a strategic shift that will see up to 50% of all future net profits dedicated to purchasing Bitcoin. This commitment signals a long-term belief in the value of digital assets, especially as a hedge against traditional financial volatility.
Shares Skyrocket, Then Retrace
Following the announcement, DigiAsia’s stock experienced a dramatic surge, closing over 91% higher at $0.36 per share on the day of the news, according to Google Finance. The rally marked one of the company’s most significant single-day gains, seemingly fueled by investor enthusiasm over its Bitcoin ambitions.
However, not all the excitement held firm. In after-hours trading, the stock pulled back by 22% to $0.28, reflecting market caution despite the earlier enthusiasm. Still, the price action illustrates just how much attention DigiAsia’s pivot toward Bitcoin is attracting — especially considering the company’s shares had declined significantly earlier this year after peaking near $12 in March 2024.
Exploring Yield Strategies and Crypto Finance Instruments
DigiAsia also shared plans to generate yield on its future Bitcoin holdings, potentially through lending, staking, or partnering with regulated financial institutions. The company said it’s already engaged in discussions to explore how best to manage and monetize its upcoming crypto assets.
Additionally, DigiAsia is considering offering convertible notes or other crypto-linked financial instruments to strengthen its treasury strategy and attract investors interested in exposure to digital assets without direct BTC ownership.
Financial Health and Growth Forecasts
Despite a challenging year on the stock market, DigiAsia’s core business remains on an upward trajectory. In its April 1 financial update, the firm reported $101 million in revenue for 2024, representing a 36% year-on-year increase. Looking ahead, DigiAsia forecasts 2025 revenues to reach $125 million, with $12 million in EBIT (earnings before interest and taxes).
This financial momentum could provide the fuel needed for the company to follow through on its aggressive Bitcoin strategy.
Following the Playbook of Bitcoin Bulls
DigiAsia’s pivot echoes the moves of several high-profile firms that have turned to Bitcoin as a strategic asset. MicroStrategy, under the leadership of Michael Saylor, pioneered the corporate Bitcoin treasury movement and currently holds 576,230 BTC — worth nearly $61 billion.
Similarly, Strive Asset Management announced plans in early May to convert itself into a Bitcoin treasury-focused firm, while GameStop raised $1.5 billion through a convertible debt offering, some of which it intends to allocate toward Bitcoin.
In Japan, investment firm Metaplanet recently made headlines by acquiring 1,004 BTC, its second-largest Bitcoin purchase to date.
According to data from Bitbo, publicly traded companies now collectively hold over 3 million BTC, valued at more than $340 billion.
Bitcoin Adoption Marches On
With Bitcoin’s current market cap hovering around $2 trillion and trading at roughly $105,642, according to CoinGecko, the trend of corporations adding BTC to their reserves shows no sign of slowing. Industry leaders like Adam Back, co-founder and CEO of Blockstream, believe this movement could ultimately push Bitcoin’s market capitalization to $200 trillion over the next decade.
For DigiAsia, this move represents more than just a financial maneuver — it’s a declaration of intent to be at the forefront of a new era in digital finance. Whether this bold bet will pay off remains to be seen, but one thing is clear: the company has fully embraced Bitcoin as a core part of its future.
