Indonesia’s DigiAsia shares pop 90% on plan to raise $100M to buy Bitcoin
DigiAsia Corp plans to raise $100 million to establish a Bitcoin treasury reserve, committing up to 50% of net profits for Bitcoin acquisitions. The Jakarta-based company aims to earn yield on its Bitcoin holdings through lending and staking, and is in discussions with regulated partners for yield strategies. Following the announcement, DigiAsia's shares surged over 91% to 36 cents but later dropped 22% to 28 cents, reflecting a nearly 53% decline for the year. In 2024, DigiAsia reported a 36% revenue increase to $101 million and projects 2025 revenues of $125 million. Corporate Bitcoin treasuries collectively hold over three million Bitcoin, valued at over $300 billion. Bitcoin's current market cap is around $2 trillion, with BTC priced at $105,642.
