Indonesia’s DigiAsia shares pop 90% on plan to raise $100M to buy Bitcoin

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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…



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Indonesia’s DigiAsia shares pop 90% on plan to raise $100M 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…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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