Indonesia’s DigiAsia shares pop 90% on plan to raise $100M to buy Bitcoin
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DigiAsia shares have doubled in one day after the company said it’s planning to raise $100 million, and use half of its profits, to buy Bitcoin.
Shares in the Indonesian fintech firm DigiAsia Corp nearly doubled after the company said it plans to raise $100 million to seed its first of many Bitcoin buys.
The Jakarta-based Nasdaq-listed company said on May 19 that its board of directors approved creating a Bitcoin (BTC) “treasury reserve” and it was “committing up to 50% of any net profits generated to fund the acquisition of BTC.”
DigiAsia said it was also “actively exploring a capital raise of up to US$100 million” to kickstart its Bitcoin holdings and would look to earn yield on its holdings through means like lending and staking.
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