DigiAsia's stock soars by 91% after the company announced it would start holding Bitcoin as part of its treasury plan

This happened after the company announced it would start holding Bitcoin as part of its treasury plan. The fintech firm, based in Indonesia, said it plans to raise $100 million

Fintech firm DigiAsia Technology (NASDAQ:FAAS) saw its stock surge by 91% on Friday, closing at $0.36. This spike follows the company’s announcement that it will be holding Bitcoin (BTC) as part of its treasury plan.

The Indonesia-based company, which is also known as DigiAsia, said it will be putting an initial $100 million into building its BTC reserves. This announcement places DigiAsia among a growing list of public companies that are turning to digital assets.

The Jakarta-based company, which trades on Nasdaq under the symbol FAAS, said its board has approved the creation of a bitcoin treasury. It also committed to putting up to 50% of its future net profits toward buying bitcoin.

“We are excited to add bitcoin to our treasury strategy as part of our commitment to delivering long-term value to our shareholders,” said Samuel Lee, chairman and CEO of DigiAsia. “We believe that bitcoin is an attractive investment opportunity, given its scarcity, durability, and portability. We are also exploring ways to diversify our bitcoin holdings through lending, staking, or offering crypto-linked financial products to generate additional returns.”

DigiAsia is currently in talks with several licensed partners in Singapore, Hong Kong, and the British Virgin Islands to help manage its bitcoin investments.

DigiAsia’s move is similar to those made by other companies, such as MicroStrategy (NASDAQ:MCRL), Metaplanet (NASDAQ:MTAP), and GameStop (NYSE:GME), which have also been adding bitcoin to their balance sheets in recent months.

As part of its treasury plan, DigiAsia disclosed that it will be investing up to $100 million in bitcoin and allocating up to 50% of its future net profits toward additional bitcoin purchases. The company is also considering diversifying its bitcoin holdings through lending, staking, or offering crypto-linked financial products.

DigiAsia is working with several licensed partners in Singapore, Hong (SE:6598)ng Kong, and the British Virgin Islands to manage its bitcoin investments and ensure compliance with relevant regulations.

DigiAsia’s stock price surged by 91% on Friday, closing at $0.35. However, the stock slid by 22% in extended hours of trading. Despite the day’s gains, DigiAsia’s stock is still down by 53% in 2025, after hitting a high of nearly $12 in March.

The company has been reporting strong business results, despite the drop in its stock price. DigiAsia reported $101 million in revenue for 2024, showcasing a 36% increase from last year. The company is anticipating $125 million in revenue for 2025 and $12 million in earnings before interest and taxes (EBIT).

DigiAsia’s move comes as more companies are now including bitcoin in their reserve asset strategies. According to data from Bitbo, corporate treasuries now hold over 3 million BTC, valued at over $340 billion. Bitcoin is currently trading at $105,642, showing a 2% rise in the past 24 hours.

With this new initiative, DigiAsia is positioning itself at the forefront of fintech innovation in Southeast Asia. As companies increasingly explore bitcoin treasury strategies, DigiAsia stands out as one of the leading examples of this emerging trend.