The Indonesian Fintech firm Digiasia Corp’s shares almost doubled as the company said it plans to raise $ 100 million for its first seed to buy several bitcoins.
Jakarta-based Nasdaq-list company Said On May 19, its board of directors approved the creation of a bitcoin (BTC) “Treasury Reserve” and it was “committed to 50% of any net profit generated to fund the BTC acquisition.”
Digiasia stated that it would also “search for a capital growth of up to $ 100 million to kickstart its bitcoin holdings” and would look at its holdings through means such as borrowing and stacking.
Digiasia said that he had “started discussing with regulated partners” on the produce strategies “and managed its employed bitcoin holdings. The company said that it was also assessing whether convertible notes or crypto finance instruments are connected to its planned bitcoin hall.
Digiasia stock explodes on bitcoin plans
Shares in Digiasia Corp (FAAS) closed at a profit of more than 91% at 36 cents after the company announced the company’s bitcoin on May 19, According For Google Finance.
However, after the bell, Digiasia stock fell 22% to 28 cents. So far this year, the company shares are about 53% below, which is just less than $ 12 in March 2024.
In a financial update on 1 April, Digiasia Informed Its revenue increased from 36% to $ 101 million in 2024. This estimated an increase of 24% in 2025, which earned interest and earlier from $ 12 million taxes.
Michael Siyar’s strategy, earlier microstrati, with 576,230 BTC has the largest bitcoin holdings of any public company, which is about $ 60.9 billion, companies are adding bitcoins to their corporate holdings.
Striw Asset Management announced on 7 May that the bitcoin was going to infection in Treasury Company, and video game retailer gamestop corporation (GME) completed a convertible loan offer on 1 April, which raised $ 1.5 billion with some income to buy bitcoins.
Connected: Metaplanet scoops 1,004 bitcoin 2-in big purchases
According to Bitbo, corporate bitcoin tragedy has organized over three million in bitcoin at a price of over three million. data,
Adam Back, co-founder and CEO of Blockstream, predicted that the firms with bitcoin-centered treasury are running for global adoption and can bring bitcoin market cap to 200 trillion dollars in the coming decade.
Bitcoin’s market cap is currently sitting on about $ 2 trillion, BTC has changed his hand at 2%, $ 105,642 in the previous day, According For coingecko.
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