DigiAsia Stock Surges 91% on $100 Million Bitcoin Treasury Plan

DigiAsia Corp, a fintech company listed on Nasdaq under the ticker FAAS, experienced a significant surge in its stock price, jumping by over 90% following the announcement of a $100 million Bitcoin treasury plan. The company's shares rose from $0.20 to nearly $0.60 in a single trading day on May 19, 2025, marking a substantial increase in its stock value.

The Jakarta-based firm revealed that its board of directors had approved the creation of a Bitcoin “treasury reserve” and is actively exploring a capital raise of up to $100 million to fund its initial Bitcoin purchases. Additionally, DigiAsia plans to allocate up to 50% of any net profits generated toward buying more Bitcoin. This strategic move is aimed at diversifying the company's treasury and positioning itself at the forefront of institutional crypto adoption.

“We believe Bitcoin represents a compelling long-term investment and a foundational layer for modern treasury diversification,” said Prashant Gokam, Co-CEO of DigiAsia. “This move reflects our broader commitment to fintech and blockchain innovation.”

DigiAsia is not the first company to adopt such a strategy. The trend was pioneered by Strategy, which has since acquired 576,230 BTC at a cost of over $40 billion. At current market prices, Strategy’s Bitcoin holdings are worth approximately $61 billion, representing an unrealized profit of around $21 billion. The impact on Strategy’s own stock has been even more dramatic than the rise in Bitcoin itself. While Bitcoin has increased by roughly 1000% since Strategy began its Bitcoin treasury strategy, the company’s stock has surged over 3000% during the same period.

Japan-based Metaplanet is another example of a company benefiting from this strategy. Since beginning to acquire Bitcoin last August, Metaplanet has purchased 7,800 BTC and now sits on approximately $100 million in unrealized profit. Its stock has rallied over 1000% in that time, jumping from $0.45 to over $5.

According to data from BitBo, public companies now collectively hold over 740,000 BTC, worth approximately $77 billion. Strategy controls more than 90% of this total. Other recent entrants to the corporate Bitcoin treasury space include Strive Asset Management and GameStop Corporation, which raised $1.5 billion in a convertible debt offering with some proceeds earmarked for Bitcoin purchases.

DigiAsia plans to do more than simply hold Bitcoin. The company stated it has “initiated discussions with regulated partners” regarding yield strategies and management of its planned Bitcoin holdings. The firm is also assessing whether to offer convertible notes or crypto finance instruments linked to its Bitcoin treasury.

In its most recent financial update on April 1, DigiAsia reported revenue growth of 36% year-on-year to $101 million in 2024. The company has projected growth of 24% to $125 million in 2025, along with earnings before interest and taxes of $12 million.

Despite the recent surge, DigiAsia’s stock is still down nearly 53% year-to-date, having peaked at just under $12 in March 2024. After the initial 91% jump on May 19, the stock dropped 22% in after-hours trading to 28 cents.

According to Bernstein analysts, the corporate treasury trend is expected to trigger $330 billion in Bitcoin inflows and could potentially drive the price of Bitcoin to $500,000 by 2029. Bitcoin’s current market cap is around $2 trillion, with the cryptocurrency trading at approximately $105,642.

The company’s move comes at a time when Bitcoin’s price has shown strong performance, up 2% in the day following DigiAsia’s announcement.