DigiAsia’s stock soared by 91% on May 19, closing at 36 cents. This happened after the company announced it would start holding Bitcoin as part of its treasury plan. The fintech firm, based in Indonesia, said it plans to raise $100 million to begin building its BTC reserves, joining a growing list of public companies turning to digital assets. The Jakarta-based company, which trades on the Nasdaq under the symbol FAAS, said its board has approved the creation of a Bitcoin treasury. It also committed to putting up to 50% of its future net profits toward buying Bitcoin. DigiAsia Embraces Bitcoin as a New Reserve Asset In its statement, DigiAsia announced its plans to diversify ways to earn returns on its Bitcoin, such as lending, staking, or offering crypto-linked financial products. The company is in talks with licensed partners to help manage these digital assets securely. This move is in… Read More at Coingape.com
The post DigiAsia Stock Jumps 90% After Announcing Bitcoin Buying Plan appeared first on CoinGape.
