BTC
$105,538.37
+
3.20%
ETH
$2,541.99
+
7.94%
USDT
$1.0000
–
0.01%
XRP
$2.3682
+
3.26%
BNB
$650.26
+
2.58%
SOL
$168.31
+
5.34%
USDC
$0.9997
–
0.01%
DOGE
$0.2244
+
4.46%
ADA
$0.7370
+
3.59%
TRX
$0.2711
+
3.38%
SUI
$3.8626
+
5.48%
LINK
$16.05
+
7.96%
AVAX
$22.47
+
5.45%
HYPE
$26.51
+
3.50%
XLM
$0.2849
+
2.67%
SHIB
$0.0₄1458
+
4.23%
HBAR
$0.1959
+
5.29%
LEO
$8.7062
+
1.72%
BCH
$392.37
+
4.18%
TON
$3.0446
+
1.32%
By Shaurya Malwa|Edited by Parikshit Mishra
May 20, 2025, 5:41 a.m.
- DigiAsia Corp plans to raise up to $100 million to invest in a bitcoin treasury reserve.
- The company’s shares surged 91% after the announcement but later fell 22% in after-hours trading.
- DigiAsia intends to allocate up to 50% of future net profits to bitcoin purchases and explore yield-generating strategies.
DigiAsia Corp (FAAS) plans to raise up to $100 million to seed a bitcoin treasury reserve (BTC), joining a growing list of publicly traded companies looking to diversify their corporate balance sheets with bitcoin.
The announcement on Monday (which emphasized plans rather than executed actions) helped push DigiAsia’s shares up 91% during regular trading to 36 cents, before pulling back 22% after hours. The stock is still down more than 50% year-to-date.
STORY CONTINUES BELOW
The company said its board had approved a strategy to allocate up to 50% of future net profits toward BTC purchases and was “actively exploring” a capital raise of up to $100 million, according to a press release.
It also plans to pursue yield-generating strategies on its bitcoin holdings, including institutional lending and staking through regulated partners.
“We believe bitcoin represents a compelling long-term investment and a foundational layer for modern treasury diversification,” said Prashant Gokarn, Co-CEO of DigiAsia, in the release.
The firm added that it was evaluating financing methods such as convertible notes and crypto-linked instruments to support the initiative.
In an April update, DigiAsia reported $101 million in revenue for 2024, with projected earnings before interest and taxes of $12 million this year. Whether DigiAsia follows through on its BTC purchases remains to be seen. But the signal alone has been enough to give the fintech a short-term boost on Wall Street.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
