The actions of the Indonesian company Fintech, Digiasia Corp, almost doubled after the company said that it was planning to raise $ 100 million to sow its first Bitcoin purchases.
The company listed at NASDAQ based in Jakarta said on May 19 that its board of directors had approved the creation of a Bitcoin “cash reserve” (BTC) and that it “engaged up to 50% of any net profit generated to finance the acquisition of the BTC”.
Digiasia said that it “actively explored a capital increase of up to $ 100 million” to launch its Bitcoin assets and would seek a return on its participations by means such as loans and stake.
Digiasia said that he had “launched discussions with regulated partners” on performance strategies and the management of its planned Bitcoin holdings. The company added that it also assessed the opportunity to offer convertible notes or cryptographic financing instruments linked to its transport of planned bitcoin.
Digiasia stocks explode on Bitcoin plans
The actions of Digiasia Corp (FAAS) closed on May 19, a gain of just over 91% to 36 cents after the Bitcoin announcement of the company, according to Google Finance.
However, after the bell, the Digiasia stock dropped by 22% to 28 cents. The actions of the company have dropped by almost 53% so far this year, having peaked at just under $ 12 in March 2024.
In a financial update on April 1, Digiasia said that its income increased by 36% per 101 million dollars in 2024.
An increasing number of companies add bitcoin to their business participation, after its popularization by Michael Saylor’s strategy, formerly Microstrategy, who has the biggest Bitcoin holders of any public company at 576,230 BTC, worth almost 60.9 billion dollars.
Strive Asset Management announced on May 7 that he was going to go to a Bitcoin cash company, and the Gamesop Corporation Video Gaming retailer (GME) finished a convertible debt offer on April 1 which raised $ 1.5 billion, with certain products reserved for the purchase of Bitcoin.
In relation: Metaplanet broke out 1 004 Bitcoin in 2nd buy
Bitcoin vouchers of companies collectively hold more than three million Bitcoin, worth more than $ 300 billion, according to Bitbo data.
The co-founder and CEO of Blockstream, Adam Back, predicted that companies with Bitcoin treasure vouchers stimulate global adoption and could push the Bitcoin market capitalization reached 200 billions of dollars in the next decade.
Bitcoin market capitalization is currently at around 2 dollars, the BTC changing hands at $ 105,642, up 2% during the last day, according to Coingecko.
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