Nasdaq-Listed DigiAsia Plans to Raise $100M for Bitcoin Buys
So, get this – DigiAsia, a company nobody really knows about, based in Singapore and all about that Southeast Asian market, saw its stock shoot up by more than 90%. Why? Well, word on the street is they’re thinking of building up a nice little bitcoin treasury reserve. Yup, you heard that right. May 20, 2025, bright and early at 5:41 a.m. was when this news broke.
What’s the scoop? DigiAsia Corp is looking to snag up to $100 million to throw into a bitcoin treasury reserve. After this little bombshell dropped, their shares shot up by a whopping 91%. But hey, don’t get too excited, because they came crashing back down by 22% in after-hours trading. DigiAsia is planning to toss around half of its future net profits into bitcoin purchases and is even considering some fancy yield-generating strategies.
DigiAsia Corp (FAAS) is on a mission to grab $100 million to start up a bitcoin treasury reserve (BTC). They’re jumping on that bandwagon of companies going public and trying to spice up their corporate balance sheets with a bit of bitcoin. The big announcement on Monday really got investors all riled up, pushing DigiAsia’s shares up by a jaw-dropping 91% during regular trading hours, only to see it drop by 22% after the closing bell. The year hasn’t been too kind to them, though, with their stock still down by more than half. The company’s board gave the green light to throw up to 50% of their future net profits into bitcoin and are even thinking about raising a cool $100 million. They’re also looking into ways to make some cash off their bitcoin stash, like lending to big shots or staking it with the pros.
Prashant Gokarn, Co-CEO of DigiAsia, is all about that bitcoin life, saying, “We believe bitcoin represents a compelling long-term investment and a foundational layer for modern treasury diversification.” They’re even thinking about using fancy financing methods like convertible notes and crypto-linked instruments to make all this happen. DigiAsia reported making a cool $101 million in revenue in 2024 and is expected to rake in $12 million before interest and taxes this year. The big question now is whether they’ll actually go through with all this bitcoin buying. But hey, even just talking about it has given them a nice little boost on Wall Street.
So, what’s the deal with DigiAsia and bitcoin? Well, it looks like they’re trying to make a name for themselves by diving headfirst into the world of cryptocurrency. Will they sink or swim? Only time will tell. But for now, they’ve got everyone talking and their stock prices bouncing all over the place. Whether this move pays off remains to be seen, but it’s definitely got people buzzing.
