Fintech Firm DigiAsia Shares Jump 91% Following Plans to Purchase $100M Bitcoin

DigiAsia, a technology-driven fintech platform operating extensively in the Asian digital financial services sector, has recently announced a strategy towards integrating Bitcoin into its corporate treasury management.

This decision, ratified by the company’s Board of Directors, marks a significant step towards embracing digital assets as a component of modern financial strategy, aligning DigiAsia with an emerging trend among publicly listed companies.

DigiAsia Shares Surge 91%

The firm noted on May 19th that it plans to use up to half its net profits to buy Bitcoin for its reserve. It is also considering raising $100 million to start its Bitcoin holdings. The company plans to make the most of its digital assets by lending, staking, and working with trusted partners. It’s also looking into issuing notes or other crypto tools related to its Bitcoin plans.

The news of DigiAsia’s move into Bitcoin excited investors, and the company’s stock (FAAS) went up by over 91% on May 19th, closing at 36 cents, according to Google Finance data. But after hours, the stock dropped by 22% to 28 cents. So far this year, DigiAsia’s stock is down almost 53%, a significant change from its high of nearly $12 in March 2024.

“We believe Bitcoin represents a compelling long-term investment and a foundational layer for modern treasury diversification. This move positions DigiAsia at the forefront of institutional crypto adoption and reflects our broader commitment to fintech and blockchain innovation,” says Prashant Gokarn, co-CEO of DigiAsia.

Even with the stock’s ups and downs, DigiAsia’s finances show that the company is growing. A report on April 1st showed that revenue went up by 36% to $101 million in 2024, and it’s expected to rise another 24% to $125 million in 2025. The company expects to make $12 million this year before interest and taxes.

Institutions Accumulate Bitcoin

DigiAsia’s plan is similar to other companies’ using Bitcoin as a reserve asset. This was made popular by Michael Saylor’s Strategy, previously MicroStrategy, which has the most Bitcoin among public companies, now worth almost $60.9 billion. Other companies, like Strive Asset Management and GameStop, have also said they want to use Bitcoin in their financial plans.

According to data from Bitbo, the collective holdings of corporate Bitcoin treasuries currently exceed three million BTC, representing a value of over $340 billion. According to CoinGecko data, Bitcoin’s market capitalization hovers around $2 trillion, with BTC trading at approximately $105,642, reflecting a 2% increase in the past day.

Blockstream co-founder and CEO Adam Back has suggested that firms adopting Bitcoin-focused treasuries are key drivers of global adoption and could potentially propel Bitcoin’s market capitalization to $200 trillion within the next decade.