The statement, released on Monday, reveals that the decision was approved by the company's board, which sees this initiative as part of a growing trend among publicly traded companies.
Indonesian fintech company DigiAsia, which is listed on the Nasdaq exchange, announced its intention to raise up to $100 million in capital to purchase Bitcoin. The decision was approved by the company's board of directors and is part of a growing trend among publicly traded companies to invest in the cryptocurrency.
"DigiAsia is exploring options to raise up to $100 million in capital via debt, equity or equity-linked financial instruments to purchase Bitcoin," the company said in a statement on Monday.
In addition to fundraising, DigiAsia is planning to allocate 50% of its future net profits to accumulating Bitcoin for its treasury. The company is also evaluating the use of convertible notes and structured products linked to crypto assets.
"DigiAsia has initiated discussions with regulated partners on BTC yield strategies and BTC treasury reserve management," it added.
DigiAsia shares surged 91% following the announcement, closing at $0,3553 on Monday. However, after the close of trading, the shares fell 23,47%, according to data from Yahoo Finance. It is worth noting that the company's shares have fallen 96% in the last 12 months, starting at $9,60 in May 2024.
Located in Jakarta, DigiAsia provides fintech-as-a-service solutions, concentrating on digital payments and e-wallets in emerging markets. According to its latest report, DigiAsia's revenue in 2024 was $101 million, showing an increase of 36% compared to the previous year. For 2025, the company anticipates a revenue growth of 24%.
DigiAsia's move follows the likes of Michael Saylor's Strategy, which recently announced the purchase of 7.390 BTC for $764,9 million. Also on Monday, Japan's Metaplanet revealed that it had added another 1.004 BTC to its holdings, bringing its total to 7.800 BTC.
These moves highlight Bitcoin's role as a strategic reserve among publicly traded companies.
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