Indonesian Fintech Firm to Allocate 50% of Profits Toward Bitcoin Acquisition
DigiAsia Corp, a Nasdaq-listed Indonesian fintech company, saw its stock nearly double on May 19 after announcing plans to raise $100 million and commit up to 50% of its net profits toward building a Bitcoin (BTC) treasury reserve.
In a press release, the Jakarta-based firm said its board of directors had approved the move to begin accumulating Bitcoin as a long-term reserve asset, positioning the company alongside a growing number of corporate Bitcoin adopters.
“We are committing up to 50% of any net profits generated to fund the acquisition of BTC,” the company stated, adding that it had also initiated discussions with regulated partners to explore yield-generation strategies, including lending and other crypto finance instruments.
DigiAsia is also considering convertible notes and Bitcoin-linked financial products as part of its broader crypto treasury strategy.
Shares Surge 91% on Announcement, Then Pull Back
Following the announcement, DigiAsia Corp (FAAS) closed the day up 91% at 36 cents, according to Google Finance. However, the rally cooled after hours, with the stock pulling back 22% to 28 cents.
Despite the spike, DigiAsia shares remain down nearly 53% year-to-date, after hitting a 2024 high near $12 in March.
The company’s last financial update on April 1 revealed 2024 revenues of $101 million, a 36% year-over-year increase. DigiAsia projects 2025 revenues of $125 million, with $12 million in EBIT.
DigiAsia Joins Wave of Corporate Bitcoin Adopters
DigiAsia’s move echoes a growing trend among companies adding Bitcoin to their balance sheets — led by Michael Saylor’s Strategy (formerly MicroStrategy), which holds 576,230 BTC, valued at over $60 billion, making it the largest public corporate holder of Bitcoin.
Other recent entrants include:
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Strive Asset Management, which announced plans to become a Bitcoin treasury company on May 7.
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GameStop, which raised $1.5 billion in a convertible debt offering in April, with a portion earmarked for BTC purchases.
According to Bitbo, public firms now collectively hold over 3 million BTC, valued at more than $340 billion.
Bitcoin Market Cap Poised for Explosive Growth?
Blockstream CEO Adam Back has projected that corporate Bitcoin treasuries will be a key driver in pushing Bitcoin’s market cap toward $200 trillion over the next decade.
Currently, Bitcoin’s market cap sits near $2 trillion, with BTC trading around $105,600, up 2% over the past 24 hours, according to CoinGecko.
Final Thoughts: DigiAsia Aims to Lead Crypto Finance in Southeast Asia
By aligning its treasury with Bitcoin and signaling interest in crypto-native financial instruments, DigiAsia is positioning itself at the forefront of Southeast Asia’s digital finance evolution.
Whether the company can maintain momentum depends on its ability to execute a large capital raise, effectively manage Bitcoin-related volatility, and leverage its BTC holdings to generate yield — but for now, the market is paying attention.
