Indonesian fintech company DigiAsia Corp. announced plans to allocate $100 million for the purchase of Bitcoin, resulting in a stock surge of over 90%.
DigiAsia Allocates $100M for Bitcoin Treasury Reserves
DigiAsia Corp. has revealed a significant initiative involving the acquisition of $100 million in Bitcoin. The plan supports a strategy for digital treasury reserves. Prashant Gokarn, Co-CEO of DigiAsia, stated, "We believe Bitcoin is an attractive long-term investment and a baseline layer for contemporary 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.
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.
Thus, DigiAsia aims to strengthen its market position by integrating Bitcoin into its financial strategy, highlighting a growing interest in cryptocurrencies among financial institutions.
