DigiAsia Stock Soars 91% After Announcing $100M Bitcoin Treasury Bet

Market goes wild for corporate crypto plays—again. DigiAsia’s shares nearly doubled after revealing plans to allocate $100 million to Bitcoin as a reserve asset.

Wall Street shrugs: ’Because that strategy always works out.’ Meanwhile, the crypto crowd cheers another mainstream validation—price pumps guaranteed, fundamentals optional.

The news sent DigiAsia’s stock soaring to 36 cents. But after-hours trading saw a 22% drop, bringing it down to 28 cents. Despite the surge, the stock is still down 53% in 2024, after peaking at nearly $12 in March.

On April 1, DigiAsia reported $101 million in revenue for 2024, up 36% from last year. It expects to grow another 24% in 2025, hitting $125 million, with $12 million in pre-tax earnings.

DigiAsia is the latest company to add Bitcoin to its assets. Strategy (previously MicroStrategy) holds the largest amount of BTC at 576,230 BTC valued at $60.9 billion. GameStop and Strive Asset Management have recently started dealing with Bitcoin.

Corporate Bitcoin treasuries now hold over 3 million BTC, worth more than $340 billion. Some experts, like Blockstream CEO Adam Back, believe Bitcoin’s market cap could hit $200 trillion within a decade.

Also Read: Bitcoin Is Beating Gold as a Store of Value: MEXC