Ah, the illustrious DigiAsia Corp, a fintech marvel from the enchanting lands of Indonesia, has decided to sprinkle a little magic dust on its shares, which have nearly doubled! 🎉 They proclaim a grand plan to raise a staggering $100 million to embark on their first of many Bitcoin escapades. Who knew that digital gold could make one’s fortune bloom like a well-tended garden?
On the 19th of May, the board of directors, perhaps inspired by the muses of finance, declared their intention to create a Bitcoin (BTC) “treasury reserve.” They audaciously commit to funneling up to 50% of their net profits into this digital treasure hunt. One can only imagine the boardroom discussions: “Shall we invest in Bitcoin or perhaps a new fountain for the office?” 💦
But wait, there’s more! DigiAsia is “actively exploring” a capital raise of up to $100 million. They aim to kickstart their Bitcoin holdings and earn yields through lending and staking. It’s like a game of Monopoly, but with real money and fewer top hats! 🎩
In their quest for Bitcoin glory, DigiAsia has “initiated discussions with regulated partners” on yield strategies. They are also pondering whether to offer convertible notes or crypto finance instruments. One can only hope they don’t confuse their notes with musical scores! 🎶
Behold! DigiAsia Stocks Explode Like a Firework Show! 🎆
On May 19, shares in DigiAsia Corp (FAAS) closed with a gain of just over 91%, reaching a dazzling 36 cents after the Bitcoin announcement. According to Google Finance, it seems the market was in a festive mood! 🎊
However, as the clock struck bell, the stock took a nosedive, dropping 22% to 28 cents. Alas, the company’s shares are down nearly 53% this year, having once soared to just under $12 in March 2024. A tragic tale of highs and lows, worthy of a Shakespearean drama! 🎭
In a financial update on April 1, DigiAsia reported a revenue growth of 36% year-on-year, reaching $101 million in 2024. They project a growth of 24% to $125 million in 2025, along with earnings before interest and taxes of $12 million. Quite the ambitious forecast, wouldn’t you say? 📈
As the Bitcoin craze sweeps through the corporate world, more companies are adding this digital currency to their coffers. Following the lead of Michael Saylor’s Strategy, formerly MicroStrategy, which boasts the largest Bitcoin holdings of any public company at 576,230 BTC, worth nearly $60.9 billion. It’s a veritable gold rush! 🏃♂️💨
Strive Asset Management has announced its transformation into a Bitcoin treasury company, while GameStop Corporation (GME) recently completed a convertible debt offering that raised $1.5 billion, with some funds earmarked for Bitcoin purchases. It seems everyone wants a piece of the Bitcoin pie! 🥧
Corporate Bitcoin treasuries now collectively hold over three million in Bitcoin, valued at over $340 billion, according to Bitbo data. A fortune indeed, fit for a king! 👑
Blockstream co-founder and CEO Adam Back predicts that firms with Bitcoin-focused treasuries are driving global adoption and could push Bitcoin’s market cap to a staggering $200 trillion in the coming decade. A bold prediction, but who doesn’t love a good fairy tale? 📖✨
Currently, Bitcoin’s market cap hovers around $2 trillion, with BTC trading at $105,642, up 2% in the past day, according to CoinGecko. The digital currency continues to dance in the market, much like a jester at a royal court! 🤹♂️
Read More
- Silver Rate Forecast
- DOT PREDICTION. DOT cryptocurrency
- SPEC PREDICTION. SPEC cryptocurrency
- ZK PREDICTION. ZK cryptocurrency
- USD CHF PREDICTION
- INR RUB PREDICTION
- Bitcoin’s Wild Ride: Is a Market Squeeze on the Horizon?
- Brent Oil Forecast
- GBP AED PREDICTION
- ETH CAD PREDICTION. ETH cryptocurrency
2025-05-20 08:18