DigiAsia Eyes Bitcoin Treasury with $100M Raise, Stock Soars Before Slipping After-Hours

The Nasdaq-listed firm revealed that its board had approved creating a Bitcoin reserve strategy, boldly committing to allocate up to 50% of future net profits toward BTC acquisitions. DigiAsia also confirmed it’s exploring capital-raising options—potentially through convertible notes or crypto-linked financial instruments—to fund its first wave of Bitcoin buys.

The company disclosed it is in active discussions with regulated partners to manage the digital assets and generate returns via staking, lending, or other yield-bearing strategies. DigiAsia emphasized that this marks the first step in a broader Bitcoin-focused corporate strategy.

Following the announcement, DigiAsia’s stock (FAAS) surged over 91% to close at 36 cents on May 19, according to Google Finance. However, after-hours trading, shares retreated by 22%, settling at 28 cents. Despite Monday’s rally, the stock remains down nearly 53% year-to-date, having peaked near $12 in March.

The firm reported $101 million in revenue for 2024—a 36% year-on-year increase—with projections of $125 million in 2025. It expects earnings before interest and taxes (EBIT) to reach $12 million next year.

DigiAsia joins a growing list of public companies allocating capital to Bitcoin. MicroStrategy, now renamed Strategy, remains the dominant corporate holder with 576,230 BTC, worth around $60.9 billion. Others, like Strive Asset Management and GameStop, have followed suit, with the latter raising $1.5 billion through a convertible debt offering in April, partly earmarked for Bitcoin investments.

According to Bitbo data , corporate treasuries now collectively hold over 3 million BTC, valued at over $340 billion. Meanwhile, Bitcoin continues to edge upward, trading at $105,642 today with a $2 trillion market cap, according to CoinGecko data .

Blockstream CEO Adam Back recently forecast that corporate-led adoption could push Bitcoin’s total market capitalization to an astonishing $200 trillion within the next decade.

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