Indonesian Fintech DigiAsia Plans $100M Bitcoin Purchase

Indonesian fintech DigiAsia Corp. announced plans to allocate $100 million for purchasing Bitcoin, as seen in its stock surge of over 90%.

This move reflects DigiAsia’s strategy shift towards Bitcoin as a long-term investment, prompting significant market interest.

DigiAsia Commits $100M for Bitcoin Treasury Reserves

Indonesian fintech company, DigiAsia Corp., has revealed a major initiative involving the acquisition of $100 million in Bitcoin. The plan supports a strategy for digital treasury reserves. Prashant Gokarn, Co-CEO, DigiAsia Corp. stated, “We believe Bitcoin is an attractive long-term investment and a baseline layer for contemporary treasury diversification.”

The decision was backed by DigiAsia’s Board of Directors and led by Co-CEO Prashant Gokarn, who emphasized Bitcoin’s appeal for treasury diversification.

DigiAsia Stock Doubles Following Bitcoin Announcement

The announcement led to DigiAsia’s stock more than doubling in value, underlining strong market confidence. This reflects broader positive sentiment toward fintech’s crypto involvement.

The commitment to Bitcoin opens potentially lucrative opportunities in crypto yield strategies involving lending and staking, further solidifying its financial strategy.

DigiAsia Mirrors MicroStrategy’s Bitcoin Investment Strategy

The strategic move mirrors decisions by companies like MicroStrategy and Tesla, which have also seen boosts in stock value following Bitcoin investments.

Forecasts suggest higher volatility in Bitcoin’s price, yet potential growth, as seen with previous corporate endorsements of the cryptocurrency.